Legacy Private Trust Co. Sells 9,701 Shares of Constellation Brands, Inc. (NYSE:STZ)

Legacy Private Trust Co. lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 47.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,540 shares of the company's stock after selling 9,701 shares during the period. Legacy Private Trust Co.'s holdings in Constellation Brands were worth $1,934,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands during the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the fourth quarter valued at approximately $28,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $29,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Up 1.0%

NYSE STZ traded up $1.82 during trading hours on Tuesday, hitting $175.99. The company's stock had a trading volume of 609,045 shares, compared to its average volume of 1,772,952. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $31.33 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company's 50-day simple moving average is $184.71 and its two-hundred day simple moving average is $194.89. 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 released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $2.26 EPS. The business's revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, April 29th. Constellation Brands's dividend payout ratio is presently -800.00%.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.19% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on STZ shares. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Roth Mkm lowered their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Barclays increased their price target on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Piper Sandler cut Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.74.

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.