Peapack Gladstone Financial Corp Has $6.49 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Peapack Gladstone Financial Corp decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,830 shares of the company’s stock after selling 196 shares during the period. Peapack Gladstone Financial Corp’s holdings in Constellation Brands were worth $6,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BKM Wealth Management LLC bought a new stake in Constellation Brands during the fourth quarter worth $28,000. Asset Dedication LLC lifted its position in shares of Constellation Brands by 3,833.3% during the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $37,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Constellation Brands in the 3rd quarter worth approximately $41,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock traded down $0.02 during trading on Tuesday, reaching $250.30. The company had a trading volume of 1,387,758 shares, compared to its average volume of 1,199,658. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $258.36 and its two-hundred day simple moving average is $251.21. The company has a market capitalization of $45.80 billion, a PE ratio of 26.69, a PEG ratio of 1.69 and a beta of 0.89. 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 results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.56 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed 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 is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 43.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Bank of America upped their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. BMO Capital Markets raised their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $298.20.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock valued at $12,582,321 over the last three months. Company insiders own 16.19% of the company’s stock.

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.