Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,529 shares of the company’s stock after selling 19,474 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Constellation Brands worth $35,907,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Burns Matteson Capital Management LLC grew its holdings in Constellation Brands by 1.7% in the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after buying an additional 42 shares in the last quarter. FAS Wealth Partners Inc. raised its position in shares of Constellation Brands by 3.5% during the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after acquiring an additional 43 shares in the last quarter. Toth Financial Advisory Corp raised its position in shares of Constellation Brands by 0.3% during the 3rd quarter. Toth Financial Advisory Corp now owns 16,237 shares of the company’s stock worth $4,081,000 after acquiring an additional 44 shares in the last quarter. United Capital Financial Advisers LLC grew its stake in Constellation Brands by 2.9% during the 1st quarter. United Capital Financial Advisers LLC now owns 1,552 shares of the company’s stock worth $357,000 after buying an additional 44 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in Constellation Brands by 1.9% during the 1st quarter. IHT Wealth Management LLC now owns 2,406 shares of the company’s stock worth $543,000 after buying an additional 45 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STZ has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Jefferies Financial Group lifted their price target on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Barclays lifted their price objective on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada lifted their price objective on Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $298.55.

Insider Transactions at Constellation Brands

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 transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Stock Down 0.2 %

Shares of Constellation Brands stock opened at $257.31 on Thursday. The company has a fifty day moving average price of $257.51 and a 200 day moving average price of $247.13. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The stock has a market cap of $47.04 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 EPS. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $1.01 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is presently 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.