Van ECK Associates Corp Sells 3,517 Shares of Constellation Brands, Inc. (NYSE:STZ)

Van ECK Associates Corp lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,211 shares of the company’s stock after selling 3,517 shares during the quarter. Van ECK Associates Corp’s holdings in Constellation Brands were worth $14,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Fernwood Investment Management LLC boosted its position in Constellation Brands by 2.7% during the fourth quarter. Fernwood Investment Management LLC now owns 8,690 shares of the company’s stock valued at $2,101,000 after purchasing an additional 225 shares in the last quarter. Bluesphere Advisors LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at about $411,000. Choreo LLC bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $583,000. Little House Capital LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth approximately $269,000. Finally, Pitti Group Wealth Management LLC raised its stake in shares of Constellation Brands by 8.3% during the 4th quarter. Pitti Group Wealth Management LLC now owns 865 shares of the company’s stock worth $209,000 after acquiring an additional 66 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on STZ shares. Roth Mkm restated a “buy” rating and issued a $305.00 target price on shares of Constellation Brands in a research note on Friday, April 12th. Bank of America raised their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada upped their target price on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Finally, Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Constellation Brands Price Performance

NYSE:STZ opened at $253.95 on Thursday. The firm’s fifty day moving average is $260.48 and its two-hundred day moving average is $248.50. The firm has a market cap of $46.43 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.76 and a beta of 0.97. Constellation Brands, Inc. has a one year low of $221.81 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 earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company earned $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts expect that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s payout ratio is currently 37.95%.

Constellation Brands Company 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.