Axxcess Wealth Management LLC Sells 2,696 Shares of Constellation Brands, Inc. (NYSE:STZ)

Axxcess Wealth Management LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 47.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,933 shares of the company’s stock after selling 2,696 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Constellation Brands were worth $755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital International Investors lifted its position in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors raised its position in Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Constellation Brands during the 2nd quarter worth $119,394,000. Vanguard Group Inc. boosted its position in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Finally, Palestra Capital Management LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at $83,195,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,414 shares of company stock worth $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. UBS Group cut their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Morgan Stanley lowered their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Jefferies Financial Group increased their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Finally, Roth Mkm lowered their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Stock Performance

Shares of STZ stock opened at $248.34 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company’s 50 day moving average price is $245.66 and its two-hundred day moving average price is $253.90. The company has a market capitalization of $45.44 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $2.91 earnings per share. On average, analysts expect 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. Investors of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

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.