Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Grassi Investment Management

Grassi Investment Management decreased its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,989 shares of the company's stock after selling 4,865 shares during the quarter. Grassi Investment Management's holdings in Constellation Brands were worth $7,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $1,242,976,000. Norges Bank purchased a new stake in Constellation Brands in the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. raised its holdings in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in shares of Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after purchasing an additional 994,639 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Stock Up 0.8%

Shares of NYSE:STZ traded up $1.28 during mid-day trading on Friday, hitting $171.88. 1,547,430 shares of the company traded hands, compared to its average volume of 1,785,797. The firm's 50 day simple moving average is $184.17 and its 200 day simple moving average is $194.18. The firm has a market cap of $30.60 billion, a P/E ratio of 46.20, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $2.26 earnings per share. Constellation Brands's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were issued a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is currently -800.00%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares of the company's stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on STZ shares. Needham & Company LLC reiterated a "buy" rating and issued a $215.00 target price on shares of Constellation Brands in a research note on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group lowered their target price on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, BMO Capital Markets dropped their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.74.

About Constellation Brands

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.