Constellation Brands, Inc. (NYSE:STZ) Shares Sold by E&G Advisors LP

E&G Advisors LP cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145 shares of the company’s stock after selling 100 shares during the period. E&G Advisors LP’s holdings in Constellation Brands were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Valeo Financial Advisors LLC raised its holdings in shares of Constellation Brands by 4.4% during the first quarter. Valeo Financial Advisors LLC now owns 16,534 shares of the company’s stock worth $4,493,000 after purchasing an additional 703 shares during the period. Plimoth Trust Co. LLC raised its holdings in shares of Constellation Brands by 58.5% during the first quarter. Plimoth Trust Co. LLC now owns 5,147 shares of the company’s stock worth $1,399,000 after purchasing an additional 1,900 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Constellation Brands during the first quarter worth $232,000. Naviter Wealth LLC acquired a new stake in shares of Constellation Brands during the first quarter worth $204,000. Finally, West Oak Capital LLC raised its holdings in shares of Constellation Brands by 1.3% during the first quarter. West Oak Capital LLC now owns 7,175 shares of the company’s stock worth $1,950,000 after purchasing an additional 95 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $8.57 during trading hours on Wednesday, hitting $250.37. 2,669,553 shares of the company’s stock traded hands, compared to its average volume of 1,205,021. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company’s fifty day simple moving average is $255.22 and its two-hundred day simple moving average is $254.02. The company has a market cap of $45.81 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.71 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. Constellation Brands’s payout ratio is 43.07%.

Analysts Set New Price Targets

STZ has been the topic of a number of research reports. UBS Group dropped their target price on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Barclays dropped their price objective on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a report on Monday, April 15th. Bank of America increased their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $298.63.

Insiders Place Their Bets

In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

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.