Plimoth Trust Co. LLC Increases Holdings in Constellation Brands, Inc. (NYSE:STZ)

Plimoth Trust Co. LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 58.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,147 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Constellation Brands were worth $1,399,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Constellation Brands during the 4th quarter valued at about $443,844,000. Boston Partners bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $156,358,000. International Assets Investment Management LLC grew its stake in shares of Constellation Brands by 24,922.5% in the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after buying an additional 564,744 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares in the last quarter. Finally, Palestra Capital Management LLC bought a new position in Constellation Brands during the 4th quarter valued at approximately $83,195,000. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

STZ has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday, May 28th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Finally, Jefferies Financial Group increased their target price on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $298.37.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was 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 of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,031 shares of company stock worth $12,582,321. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 1.0 %

Shares of Constellation Brands stock opened at $258.94 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a market capitalization of $47.38 billion, a PE ratio of 27.61, a P/E/G ratio of 1.71 and a beta of 0.87. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The company’s fifty day simple moving average is $255.27 and its 200-day simple moving average is $253.86.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.91 earnings per share. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s dividend payout ratio is 43.07%.

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.