King Luther Capital Management Corp Sells 300 Shares of Constellation Brands, Inc. (NYSE:STZ)

King Luther Capital Management Corp trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,100 shares of the company’s stock after selling 300 shares during the period. King Luther Capital Management Corp’s holdings in Constellation Brands were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STZ. Norges Bank purchased a new stake in shares of Constellation Brands during the 4th quarter valued at about $443,844,000. Darsana Capital Partners LP boosted its holdings in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after buying an additional 650,000 shares during the period. Boston Partners purchased a new stake in Constellation Brands in the 4th quarter worth $156,358,000. International Assets Investment Management LLC raised its holdings in Constellation Brands by 24,922.5% during the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after acquiring an additional 564,744 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Constellation Brands by 38.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after acquiring an additional 388,390 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. HSBC upped their price target 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. Finally, UBS Group lifted their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Buying and Selling

In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 in the last ninety days. 16.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $248.51 on Friday. The company has a market capitalization of $45.47 billion, a PE ratio of 26.49, a P/E/G ratio of 1.68 and a beta of 0.95. The company has a 50-day simple moving average of $260.90 and a two-hundred day simple moving average of $250.80. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. 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 (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 EPS. Research analysts expect that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

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.