Hedeker Wealth LLC Sells 4,208 Shares of Constellation Brands, Inc. (NYSE:STZ)

Hedeker Wealth LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 20.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,352 shares of the company’s stock after selling 4,208 shares during the period. Constellation Brands accounts for about 1.3% of Hedeker Wealth LLC’s investment portfolio, making the stock its 29th biggest holding. Hedeker Wealth LLC’s holdings in Constellation Brands were worth $4,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Morgan Stanley raised its stake in shares of Constellation Brands by 1.5% during the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after buying an additional 58,518 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Constellation Brands by 12.9% during the fourth quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock worth $543,361,000 after buying an additional 256,738 shares during the last quarter. Norges Bank bought a new stake in shares of Constellation Brands during the fourth quarter worth approximately $443,844,000. Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after buying an additional 388,390 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Constellation Brands by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 742,735 shares of the company’s stock worth $179,556,000 after buying an additional 4,588 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $305.00 price target on shares of Constellation Brands in a research note on Friday, April 12th. Barclays decreased their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a report on Monday, April 15th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $298.37.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Up 0.2 %

Shares of STZ stock traded up $0.61 during trading on Wednesday, reaching $259.55. The company’s stock had a trading volume of 480,175 shares, compared to its average volume of 1,187,775. The business has a fifty day moving average price of $255.27 and a 200-day moving average price of $253.86. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a market cap of $47.49 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts anticipate that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

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.