Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 57.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,841 shares of the company’s stock after selling 35,945 shares during the quarter. Sanctuary Advisors LLC’s holdings in Constellation Brands were worth $6,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at about $25,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands in the second quarter worth $36,000. Wellington Shields & Co. LLC raised its stake in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the period. Finally, Eastern Bank acquired a new position in shares of Constellation Brands during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

STZ stock opened at $239.66 on Friday. The firm has a market cap of $43.51 billion, a P/E ratio of 77.56, a P/E/G ratio of 1.69 and a beta of 1.75. The stock’s 50 day simple moving average is $238.99 and its 200 day simple moving average is $246.02. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $3.70 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company cut their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 26th. 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 report on Friday, October 4th. Barclays lowered their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. UBS Group reduced 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $288.70.

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.