Washington Trust Bank Has $9.60 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Washington Trust Bank cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,447 shares of the company’s stock after selling 93 shares during the quarter. Washington Trust Bank’s holdings in Constellation Brands were worth $9,602,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its position in shares of Constellation Brands by 13.0% during the third quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock worth $1,892,000 after purchasing an additional 845 shares during the period. Pathstone Holdings LLC raised its position in shares of Constellation Brands by 7.2% during the third quarter. Pathstone Holdings LLC now owns 24,933 shares of the company’s stock worth $6,425,000 after purchasing an additional 1,681 shares during the period. Prospera Financial Services Inc raised its position in shares of Constellation Brands by 42.5% during the third quarter. Prospera Financial Services Inc now owns 3,919 shares of the company’s stock worth $1,010,000 after purchasing an additional 1,168 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Constellation Brands during the third quarter worth approximately $815,000. Finally, King Luther Capital Management Corp raised its position in shares of Constellation Brands by 12.4% during the third quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock worth $364,000 after purchasing an additional 156 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In related news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Down 0.6 %

STZ stock opened at $177.73 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. The stock has a fifty day moving average of $177.32 and a 200-day moving average of $217.28.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.19 EPS. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.27%. Constellation Brands’s payout ratio is 108.60%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STZ. TD Cowen lowered their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Morgan Stanley lowered Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Roth Capital lowered their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Citigroup lowered Constellation Brands from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $200.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $250.41.

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.