Commerce Bank Has $3.39 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Commerce Bank lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 5.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,011 shares of the company’s stock after purchasing an additional 742 shares during the period. Commerce Bank’s holdings in Constellation Brands were worth $3,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of STZ. BKM Wealth Management LLC bought a new position in Constellation Brands during the fourth quarter worth $28,000. Asset Dedication LLC increased its position in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in Constellation Brands during the fourth quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Constellation Brands during the third quarter worth $41,000. Finally, Exchange Traded Concepts LLC bought a new position in Constellation Brands during the fourth quarter worth $45,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday, April 12th. Barclays boosted their price target on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Finally, Roth Mkm reissued a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $298.55.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $248.51 on Monday. The firm’s 50 day simple moving average is $260.90 and its 200 day simple moving average is $250.87. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. 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 $45.47 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 1.68 and a beta of 0.95.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.09 billion. During the same period in the prior year, the business earned $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. 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. Constellation Brands’s dividend payout ratio is presently 43.07%.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. In the last three months, insiders sold 48,031 shares of company stock valued at $12,582,321. 16.19% of the stock is owned by corporate insiders.

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.