Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,123 shares of the company’s stock after selling 777 shares during the period. Mutual of America Capital Management LLC’s holdings in Constellation Brands were worth $8,522,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands in the 1st quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Constellation Brands in the 4th quarter worth about $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STZ has been the topic of a number of research reports. UBS Group cut their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Roth Mkm cut their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group raised their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $296.78.

Constellation Brands Price Performance

STZ stock opened at $251.00 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.19 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’s 50 day moving average is $245.88 and its two-hundred day moving average is $253.94. The company has a market capitalization of $45.93 billion, a PE ratio of 18.70, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. Analysts predict that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. Constellation Brands’s payout ratio is 30.10%.

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.