PNC Financial Services Group Inc. Has $28.96 Million Position in Constellation Brands, Inc. (NYSE:STZ)

PNC Financial Services Group Inc. lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,060 shares of the company’s stock after selling 3,369 shares during the period. PNC Financial Services Group Inc. owned 0.07% of Constellation Brands worth $28,964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Constellation Brands by 22.7% in the third quarter. Farther Finance Advisors LLC now owns 812 shares of the company’s stock valued at $209,000 after buying an additional 150 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Constellation Brands by 2.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,995 shares of the company’s stock valued at $2,576,000 after buying an additional 237 shares during the period. Assetmark Inc. increased its stake in shares of Constellation Brands by 25.1% in the third quarter. Assetmark Inc. now owns 22,609 shares of the company’s stock valued at $5,826,000 after buying an additional 4,531 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in shares of Constellation Brands by 40.9% in the third quarter. Legacy Capital Wealth Partners LLC now owns 2,227 shares of the company’s stock valued at $574,000 after buying an additional 646 shares during the period. Finally, Chartwell Investment Partners LLC increased its stake in shares of Constellation Brands by 7.1% in the third quarter. Chartwell Investment Partners LLC now owns 39,431 shares of the company’s stock valued at $10,161,000 after buying an additional 2,627 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 4.3 %

STZ stock opened at $186.64 on Monday. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $184.27 and its 200-day moving average is $221.13. The firm has a market capitalization of $33.73 billion, a PE ratio of 50.17, a P/E/G ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. Wells Fargo & Company decreased their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their target price on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.24.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 12.19% of the stock is currently owned by company insiders.

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.