Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,877 shares of the company’s stock after selling 201 shares during the quarter. Bleakley Financial Group LLC’s holdings in Constellation Brands were worth $741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STZ. New Millennium Group LLC acquired a new position in Constellation Brands in the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the second quarter worth approximately $32,000. First Financial Corp IN purchased a new stake in Constellation Brands in the 1st quarter worth approximately $35,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $36,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

NYSE:STZ opened at $239.15 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1-year low of $227.64 and a 1-year high of $274.87. The firm has a 50-day moving average of $246.52 and a two-hundred day moving average of $251.18. The stock has a market cap of $43.76 billion, a P/E ratio of 17.82, a PEG ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 EPS. On average, research analysts expect that Constellation Brands, Inc. will post 13.57 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 Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of the 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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,221 shares of company stock valued at $33,007,175 over the last three months. 12.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Evercore ISI reduced their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. BMO Capital Markets reduced their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Barclays cut their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Finally, Bank of America reaffirmed a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.