Wesbanco Bank Inc. Has $8.78 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Wesbanco Bank Inc. lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 43.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,327 shares of the company’s stock after selling 27,531 shares during the quarter. Wesbanco Bank Inc.’s holdings in Constellation Brands were worth $8,782,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Palestra Capital Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth about $83,195,000. Grayhawk Investment Strategies Inc. acquired a new position in Constellation Brands during the fourth quarter worth $301,000. Bradley Foster & Sargent Inc. CT increased its stake in Constellation Brands by 4.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 269,149 shares of the company’s stock valued at $65,067,000 after buying an additional 11,705 shares during the last quarter. Bain Capital Public Equity Management II LLC grew its holdings in shares of Constellation Brands by 0.7% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 630,515 shares of the company’s stock valued at $152,427,000 after acquiring an additional 4,348 shares in the last quarter. Finally, Barden Capital Management Inc. raised its holdings in Constellation Brands by 11.4% during the fourth quarter. Barden Capital Management Inc. now owns 5,998 shares of the company’s stock worth $1,500,000 after acquiring an additional 612 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ traded down $1.12 on Friday, reaching $253.50. 714,090 shares of the company’s stock traded hands, compared to its average volume of 1,192,038. The stock’s 50 day simple moving average is $255.59 and its two-hundred day simple moving average is $251.80. 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 52-week low of $227.50 and a 52-week high of $274.87. The stock has a market cap of $46.39 billion, a PE ratio of 27.14, a PEG ratio of 1.73 and a beta of 0.89.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the business posted $1.98 EPS. Constellation Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STZ shares. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research note on Monday, April 15th. BMO Capital Markets raised their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. HSBC upped their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. UBS Group increased their price objective on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Bank of America boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $298.20.

Insider Activity 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 stock was 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 in the company, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on 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 approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock valued at $12,582,321 over the last three months. 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.