Citizens Business Bank Has $3.65 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Citizens Business Bank reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,176 shares of the company’s stock after selling 517 shares during the period. Citizens Business Bank’s holdings in Constellation Brands were worth $3,653,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. New Millennium Group LLC acquired a new position in Constellation Brands during the second quarter worth $25,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at about $36,000. Wellington Shields & Co. LLC grew its holdings in Constellation Brands by 50.0% during the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Finally, Eastern Bank acquired a new position in Constellation Brands during the third quarter worth approximately $39,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $242.60 on Wednesday. The company’s 50-day moving average price is $239.83 and its two-hundred day moving average price is $246.21. The firm has a market cap of $44.05 billion, a P/E ratio of 78.51, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 earnings per share. On average, analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STZ shares. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. Finally, TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $288.70.

Constellation Brands Company 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.