Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 5.6% in the 4th quarter, Holdings Channel reports. The fund owned 59,211 shares of the company’s stock after selling 3,517 shares during the period. Van ECK Associates Corp’s holdings in Constellation Brands were worth $14,315,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in Constellation Brands in the fourth quarter valued at about $28,000. Asset Dedication LLC lifted its holdings in shares of Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $37,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Constellation Brands during the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC purchased a new position in Constellation Brands in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on STZ. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research report on Wednesday, April 10th. Roth Mkm reiterated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. Bank of America upped their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Finally, Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Performance

Shares of STZ opened at $253.95 on Thursday. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The company’s 50 day simple moving average is $260.48 and its 200 day simple moving average is $248.50. The company has a market capitalization of $46.43 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.76 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.59%. Constellation Brands’s payout ratio is 37.95%.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.