Trust Co. of Vermont Cuts Stake in Constellation Brands Inc (NYSE:STZ)

Trust Co. of Vermont lowered its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 48.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,063 shares of the company's stock after selling 7,483 shares during the period. Trust Co. of Vermont's holdings in Constellation Brands were worth $1,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of STZ. Brighton Jones LLC increased its stake in shares of Constellation Brands by 23.0% during the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after purchasing an additional 187 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Constellation Brands by 39.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after purchasing an additional 1,733 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Constellation Brands by 10.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,235 shares of the company's stock worth $494,000 after purchasing an additional 207 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $36,000. Finally, New York Life Investment Management LLC increased its stake in shares of Constellation Brands by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 20,981 shares of the company's stock worth $4,637,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $161.34 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of -316.35, a PEG ratio of 8.92 and a beta of 0.70. The company's 50-day moving average is $178.84 and its two-hundred day moving average is $185.96. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $264.45.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business posted $2.26 EPS. Constellation Brands's revenue was up 1.2% on a year-over-year basis. Analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were issued a $1.02 dividend. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Tuesday, April 29th. Constellation Brands's dividend payout ratio is currently -800.00%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.45% of the company's stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research reports. Citigroup cut their target price on shares of Constellation Brands from $190.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and upped their price objective for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Bernstein Bank dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Roth Capital dropped their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Finally, Bank of America dropped their price objective on shares of Constellation Brands from $195.00 to $180.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.91.

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.

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