Wealth Alliance Lowers Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Wealth Alliance cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 18.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,576 shares of the company’s stock after selling 361 shares during the quarter. Wealth Alliance’s holdings in Constellation Brands were worth $406,000 at the end of the most recent reporting period.

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

Constellation Brands Trading Down 1.1 %

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

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.91 EPS. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Roth Mkm lowered their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Barclays increased their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $296.78.

Constellation Brands 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.