Constellation Brands, Inc. (NYSE:STZ) Stock Position Decreased by Gabelli Funds LLC

Gabelli Funds LLC cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,500 shares of the company’s stock after selling 6,500 shares during the period. Gabelli Funds LLC’s holdings in Constellation Brands were worth $9,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Portfolio Solutions LLC raised its stake in shares of Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after acquiring an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. raised its stake in shares of Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after acquiring an additional 42 shares in the last quarter. FAS Wealth Partners Inc. raised its stake in shares of Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after acquiring an additional 43 shares in the last quarter. Finally, Smithfield Trust Co raised its stake in shares of Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock valued at $207,000 after acquiring an additional 43 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Roth Mkm lowered their target price on Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a report on Friday, July 5th. JPMorgan Chase & Co. raised their target price on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. HSBC raised their target price on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI raised their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $300.28.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the transaction, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction 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 owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,214 shares of company stock worth $7,620,551. 12.19% of the stock is currently owned by insiders.

Constellation Brands Price Performance

STZ stock traded up $4.10 during trading on Friday, hitting $253.48. The company had a trading volume of 846,431 shares, compared to its average volume of 1,287,151. The company has a fifty day moving average price of $252.86 and a two-hundred day moving average price of $255.09. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market cap of $46.19 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.67 and a beta of 0.87. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a $1.01 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.59%. Constellation Brands’s payout ratio is 30.10%.

Constellation Brands Profile

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.