PNC Financial Services Group Inc. Decreases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

PNC Financial Services Group Inc. lowered its stake in Constellation Brands, Inc. (NYSE:STZFree Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,575 shares of the company’s stock after selling 2,248 shares during the quarter. PNC Financial Services Group Inc. owned 0.08% of Constellation Brands worth $33,742,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Burns Matteson Capital Management LLC lifted its holdings in Constellation Brands by 1.7% in the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after acquiring an additional 42 shares during the period. FAS Wealth Partners Inc. increased its stake in shares of Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after purchasing an additional 43 shares in the last quarter. Smithfield Trust Co raised its holdings in Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after purchasing an additional 43 shares during the period. Schear Investment Advisers LLC grew its holdings in Constellation Brands by 1.8% during the fourth quarter. Schear Investment Advisers LLC now owns 2,522 shares of the company’s stock valued at $610,000 after purchasing an additional 44 shares during the period. Finally, Lincoln National Corp increased its position in Constellation Brands by 2.0% in the third quarter. Lincoln National Corp now owns 2,565 shares of the company’s stock worth $645,000 after buying an additional 50 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research report on Monday, April 15th. UBS Group raised their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Bank of America upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada boosted their target price on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, HSBC raised their target price on shares of Constellation Brands from $290.00 to $300.00 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 eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Check Out Our Latest Stock Analysis on Constellation Brands

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands 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 transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was 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 owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,031 shares of company stock worth $12,582,321. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ stock opened at $250.65 on Tuesday. 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 company has a market capitalization of $45.86 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.72 and a beta of 0.95. The company’s 50-day simple moving average is $262.11 and its two-hundred day simple moving average is $250.68. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87.

Constellation Brands (NYSE:STZGet Free Report) last issued 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. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the company posted $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 43.07%.

Constellation Brands Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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