Wesbanco Bank Inc. Acquires 901 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wesbanco Bank Inc. raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,665 shares of the company’s stock after buying an additional 901 shares during the period. Wesbanco Bank Inc.’s holdings in Constellation Brands were worth $8,545,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the period. Janus Henderson Group PLC boosted its position in Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares during the period. Legal & General Group Plc boosted its position in Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the period. International Assets Investment Management LLC boosted its position in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. Finally, National Pension Service boosted its position in Constellation Brands by 13.6% during the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after buying an additional 45,707 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 2.2 %

NYSE:STZ opened at $178.99 on Thursday. The firm has a market cap of $32.35 billion, a P/E ratio of 48.12, a P/E/G ratio of 1.61 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a fifty-two week low of $176.51 and a fifty-two week high of $274.87. The firm has a 50-day simple moving average of $224.60 and a two-hundred day simple moving average of $237.74.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Analysts predict that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.26%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Wall Street Analyst Weigh In

STZ has been the subject of several research analyst reports. Barclays dropped their target price on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a research report on Friday, January 10th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. BMO Capital Markets dropped their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, BNP Paribas initiated coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.05.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 69,172 shares of company stock worth $16,778,841 over the last three months. 12.19% of the stock is currently owned by company 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.