Guardian Capital LP Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Guardian Capital LP trimmed its holdings in Constellation Brands, Inc. (NYSE:STZGet Rating) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,625 shares of the company’s stock after selling 630 shares during the period. Guardian Capital LP’s holdings in Constellation Brands were worth $1,544,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Constellation Brands by 15.8% in the 1st quarter. Victory Capital Management Inc. now owns 292,551 shares of the company’s stock worth $68,229,000 after buying an additional 39,949 shares during the last quarter. Walleye Capital LLC boosted its stake in Constellation Brands by 163.3% in the 2nd quarter. Walleye Capital LLC now owns 2,388 shares of the company’s stock worth $557,000 after buying an additional 1,481 shares during the last quarter. Bank of America Corp DE boosted its stake in Constellation Brands by 8.0% in the 1st quarter. Bank of America Corp DE now owns 2,376,746 shares of the company’s stock worth $547,412,000 after buying an additional 176,991 shares during the last quarter. HighTower Advisors LLC boosted its stake in Constellation Brands by 0.9% in the 1st quarter. HighTower Advisors LLC now owns 103,312 shares of the company’s stock worth $23,801,000 after buying an additional 950 shares during the last quarter. Finally, Lincoln National Corp lifted its stake in shares of Constellation Brands by 4.2% in the 2nd quarter. Lincoln National Corp now owns 2,681 shares of the company’s stock valued at $624,000 after purchasing an additional 109 shares in the last quarter. 73.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder 2015 Business Holdings Lp Rht sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $239.06, for a total value of $239,060,000.00. Following the completion of the sale, the insider now directly owns 350,000 shares in the company, valued at approximately $83,671,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Robert Sands sold 3,700,002 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $239.06, for a total transaction of $884,522,478.12. Following the completion of the transaction, the chairman now owns 24,347,294 shares in the company, valued at approximately $5,820,464,103.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2015 Business Holdings Lp Rht sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $239.06, for a total value of $239,060,000.00. Following the transaction, the insider now owns 350,000 shares of the company’s stock, valued at approximately $83,671,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,704,167 shares of company stock worth $1,124,624,686. 16.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STZ shares. UBS Group lifted their price objective on Constellation Brands from $270.00 to $281.00 and gave the company a “buy” rating in a research note on Friday, October 7th. Wedbush started coverage on Constellation Brands in a research note on Monday, October 10th. They issued an “outperform” rating and a $275.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Constellation Brands from $263.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday, September 15th. BMO Capital Markets initiated coverage on Constellation Brands in a research note on Tuesday, August 2nd. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, TheStreet downgraded Constellation Brands from a “b” rating to a “c+” rating in a report on Tuesday, September 20th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.43.

Constellation Brands Stock Up 0.7 %

STZ stock traded up $1.69 during midday trading on Thursday, hitting $256.69. 552,062 shares of the company’s stock were exchanged, compared to its average volume of 983,333. The company has a current ratio of 1.41, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12-month low of $207.59 and a 12-month high of $261.52. The firm has a 50 day moving average price of $236.72 and a 200-day moving average price of $241.10. The stock has a market capitalization of $47.35 billion, a price-to-earnings ratio of 828.06, a price-to-earnings-growth ratio of 2.07 and a beta of 0.98.

Constellation Brands (NYSE:STZGet Rating) last posted its quarterly earnings data on Thursday, October 6th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.36. Constellation Brands had a return on equity of 19.05% and a net margin of 1.03%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the business earned $2.38 EPS. Constellation Brands’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands, Inc. will post 11.09 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 4th were issued a $0.80 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.25%. Constellation Brands’s dividend payout ratio (DPR) is 1,032.29%.

Constellation Brands Company Profile

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZGet Rating).

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.