Northwestern Mutual Wealth Management Co. grew its stake in shares of Constellation Brands Inc (NYSE:STZ – Free Report) by 799.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 166,406 shares of the company’s stock after buying an additional 147,912 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Constellation Brands were worth $22,957,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Choreo LLC grew its holdings in shares of Constellation Brands by 2.1% during the 4th quarter. Choreo LLC now owns 3,116 shares of the company’s stock valued at $437,000 after purchasing an additional 63 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of Constellation Brands by 2.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company’s stock valued at $484,000 after purchasing an additional 76 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Constellation Brands by 4.0% during the 4th quarter. Sigma Planning Corp now owns 2,458 shares of the company’s stock valued at $325,000 after purchasing an additional 95 shares during the last quarter. Shayne & Jacobs LLC grew its holdings in shares of Constellation Brands by 6.9% during the 3rd quarter. Shayne & Jacobs LLC now owns 1,850 shares of the company’s stock valued at $249,000 after purchasing an additional 120 shares during the last quarter. Finally, Raiffeisen Bank International AG grew its holdings in shares of Constellation Brands by 57.8% during the 3rd quarter. Raiffeisen Bank International AG now owns 344 shares of the company’s stock valued at $46,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.
Insider Activity at Constellation Brands
In other news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.45% of the company’s stock.
Constellation Brands Stock Performance
Constellation Brands (NYSE:STZ – Get Free Report) last posted its earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the company posted $2.63 EPS. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. Sell-side analysts expect that Constellation Brands Inc will post 11.9 EPS for the current year.
Constellation Brands Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a $1.03 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio is 42.96%.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Citigroup reaffirmed a “buy” rating on shares of Constellation Brands in a report on Monday. Morgan Stanley increased their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. UBS Group increased their target price on shares of Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a report on Friday, April 10th. Needham & Company LLC increased their target price on shares of Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.37.
Read Our Latest Stock Report on STZ
Constellation Brands Company Profile
Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.
The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.
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