NewEdge Advisors LLC Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

NewEdge Advisors LLC lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,310 shares of the company’s stock after selling 852 shares during the period. NewEdge Advisors LLC’s holdings in Constellation Brands were worth $1,881,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rafferty Asset Management LLC raised its stake in shares of Constellation Brands by 4.4% during the 4th quarter. Rafferty Asset Management LLC now owns 12,541 shares of the company’s stock valued at $3,032,000 after purchasing an additional 525 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Constellation Brands by 3.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 10,496 shares of the company’s stock worth $2,537,000 after buying an additional 367 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Constellation Brands by 64.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,339 shares of the company’s stock valued at $4,675,000 after acquiring an additional 7,589 shares during the period. Crossmark Global Holdings Inc. grew its stake in Constellation Brands by 2.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 5,256 shares of the company’s stock valued at $1,271,000 after acquiring an additional 121 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Constellation Brands by 18.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 9,953 shares of the company’s stock worth $2,406,000 after acquiring an additional 1,542 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 1.2 %

Shares of NYSE:STZ opened at $246.67 on Friday. The stock has a market capitalization of $45.13 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The stock’s 50-day moving average price is $246.53 and its 200-day moving average price is $253.50. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $0.21. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 EPS. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Analyst Upgrades and Downgrades

Several research analysts have commented on STZ shares. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Friday. Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $295.75.

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.