Camden National Bank Purchases 6,250 Shares of Constellation Brands, Inc. (NYSE:STZ)

Camden National Bank lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,362 shares of the company’s stock after purchasing an additional 6,250 shares during the period. Camden National Bank’s holdings in Constellation Brands were worth $8,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in STZ. Farther Finance Advisors LLC increased its stake in shares of Constellation Brands by 22.7% during the third quarter. Farther Finance Advisors LLC now owns 812 shares of the company’s stock worth $209,000 after purchasing an additional 150 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Constellation Brands by 2.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 9,995 shares of the company’s stock worth $2,576,000 after purchasing an additional 237 shares during the period. Executive Wealth Management LLC increased its stake in shares of Constellation Brands by 18.9% during the third quarter. Executive Wealth Management LLC now owns 12,985 shares of the company’s stock worth $3,346,000 after purchasing an additional 2,060 shares during the period. Assetmark Inc. increased its stake in shares of Constellation Brands by 25.1% during the third quarter. Assetmark Inc. now owns 22,609 shares of the company’s stock worth $5,826,000 after purchasing an additional 4,531 shares during the period. Finally, 5th Street Advisors LLC bought a new position in shares of Constellation Brands during the third quarter worth approximately $206,000. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on STZ shares. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $220.00 to $202.00 in a research report on Thursday, February 27th. UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday. TD Cowen reduced their price target 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. Finally, BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.24.

Constellation Brands Trading Up 4.3 %

NYSE STZ opened at $186.64 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a market cap of $33.73 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business’s fifty day moving average is $184.27 and its 200 day moving average is $221.45.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data 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). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the business earned $3.19 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Buying and Selling

In related news, Director William T. Giles bought 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is owned by corporate insiders.

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.