Constellation Brands, Inc. (NYSE:STZ) Position Lowered by Howe & Rusling Inc.

Howe & Rusling Inc. decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,458 shares of the company’s stock after selling 287 shares during the period. Constellation Brands comprises about 1.7% of Howe & Rusling Inc.’s investment portfolio, making the stock its 13th biggest holding. Howe & Rusling Inc.’s holdings in Constellation Brands were worth $15,583,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Morgan Stanley raised its holdings in Constellation Brands by 1.5% during the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares in the last quarter. Northern Trust Corp raised its holdings in Constellation Brands by 3.7% during the third quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock worth $376,752,000 after purchasing an additional 53,862 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Constellation Brands by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock worth $255,126,000 after purchasing an additional 85,330 shares in the last quarter. Darsana Capital Partners LP raised its holdings in Constellation Brands by 288.9% during the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Constellation Brands by 9.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock worth $201,236,000 after purchasing an additional 71,979 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on STZ shares. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Evercore ISI upped their price target on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a report on Friday, January 5th. BMO Capital Markets lifted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, HSBC lifted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Stock Performance

Shares of STZ traded up $2.47 during trading hours on Wednesday, reaching $255.93. 715,527 shares of the company traded hands, compared to its average volume of 1,245,120. The stock’s fifty day moving average is $260.31 and its 200 day moving average is $248.46. The stock has a market cap of $46.79 billion, a P/E ratio of 27.02, a price-to-earnings-growth 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, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87.

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

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.58%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 37.95%.

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.