Creative Planning Sells 1,631 Shares of Constellation Brands, Inc. (NYSE:STZ)

Creative Planning decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,856 shares of the company’s stock after selling 1,631 shares during the quarter. Creative Planning’s holdings in Constellation Brands were worth $13,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC lifted its stake in shares of Constellation Brands by 43.6% in the first quarter. Park Avenue Securities LLC now owns 3,230 shares of the company’s stock valued at $878,000 after buying an additional 980 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Constellation Brands by 6.0% during the first quarter. Ballentine Partners LLC now owns 2,588 shares of the company’s stock valued at $703,000 after acquiring an additional 146 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Constellation Brands in the first quarter worth $46,000. AdvisorNet Financial Inc grew its stake in Constellation Brands by 11.1% in the 1st quarter. AdvisorNet Financial Inc now owns 572 shares of the company’s stock valued at $155,000 after purchasing an additional 57 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Constellation Brands by 3.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 9,100 shares of the company’s stock valued at $2,473,000 after purchasing an additional 336 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated 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 directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,221 shares of company stock worth $33,007,175. 12.19% of the stock is currently owned by insiders.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $239.15 on Tuesday. The company has a 50 day moving average of $246.52 and a 200 day moving average of $251.18. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market cap of $43.76 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $3.70 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. Constellation Brands’s payout ratio is currently 30.10%.

Wall Street Analyst Weigh In

STZ has been the subject of several research reports. Morgan Stanley reduced 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. Barclays decreased their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. BMO Capital Markets reduced their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.