Grimes & Company Inc. Has $5.74 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Grimes & Company Inc. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,277 shares of the company’s stock after purchasing an additional 3,677 shares during the period. Grimes & Company Inc.’s holdings in Constellation Brands were worth $5,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the fourth quarter worth about $26,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth about $29,000. Finally, Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $162.70 on Tuesday. The firm has a market capitalization of $28.96 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The stock has a fifty day moving average of $183.05 and a 200 day moving average of $190.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $2.26 earnings per share. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.51%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is -800.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $215.00 target price on shares of Constellation Brands in a report on Thursday, April 10th. The Goldman Sachs Group reduced their target price on Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Roth Mkm reduced their target price on Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.00.

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.