Canandaigua National Bank & Trust Co. Has $11.74 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Canandaigua National Bank & Trust Co. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,186 shares of the company’s stock after acquiring an additional 417 shares during the period. Constellation Brands comprises approximately 1.7% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 10th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Constellation Brands were worth $11,736,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STZ. Aviva PLC raised its holdings in shares of Constellation Brands by 182.6% in the 3rd quarter. Aviva PLC now owns 18,492 shares of the company’s stock valued at $4,648,000 after purchasing an additional 11,948 shares during the period. Johnson Investment Counsel Inc. lifted its position in shares of Constellation Brands by 65.4% in the third quarter. Johnson Investment Counsel Inc. now owns 2,532 shares of the company’s stock valued at $636,000 after buying an additional 1,001 shares during the last quarter. Prudential PLC boosted its stake in shares of Constellation Brands by 127.8% during the 3rd quarter. Prudential PLC now owns 16,353 shares of the company’s stock worth $4,110,000 after acquiring an additional 9,174 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of Constellation Brands by 11.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 12,016 shares of the company’s stock worth $3,020,000 after acquiring an additional 1,253 shares during the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Constellation Brands by 11.1% during the 3rd quarter. Korea Investment CORP now owns 164,128 shares of the company’s stock worth $41,250,000 after acquiring an additional 16,340 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.2 %

Shares of NYSE:STZ traded up $0.58 during trading on Tuesday, reaching $262.92. The stock had a trading volume of 297,566 shares, compared to its average volume of 1,187,666. The firm’s fifty day moving average is $255.28 and its 200 day moving average is $252.23. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The stock has a market cap of $48.11 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 1.73 and a beta of 0.89.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the firm posted $1.98 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the firm’s 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 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 ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. 12.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STZ has been the topic of several research reports. UBS Group upped their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 12th. Roth Mkm reaffirmed a “buy” rating and set a $305.00 target price on shares of Constellation Brands in a report on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, May 28th. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $298.20.

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.