Independence Bank of Kentucky Sells 3,189 Shares of Constellation Brands, Inc. (NYSE:STZ)

Independence Bank of Kentucky cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 84.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 595 shares of the company’s stock after selling 3,189 shares during the quarter. Independence Bank of Kentucky’s holdings in Constellation Brands were worth $109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc bought a new stake in Constellation Brands in the 4th quarter worth about $1,242,976,000. Norges Bank bought a new stake in Constellation Brands in the 4th quarter worth about $445,883,000. Vanguard Group Inc. increased its holdings in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Up 0.8%

STZ stock opened at $171.88 on Monday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market cap of $30.60 billion, a P/E ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75. The business’s 50-day moving average price is $183.90 and its 200-day moving average price is $193.05.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the firm earned $2.26 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.37%. Constellation Brands’s payout ratio is currently -800.00%.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on STZ. Morgan Stanley reduced their price objective on Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Roth Mkm reduced their price objective on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen raised Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.74.

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.