Peddock Capital Advisors LLC Sells 691 Shares of Constellation Brands, Inc. (NYSE:STZ)

Peddock Capital Advisors LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,279 shares of the company’s stock after selling 691 shares during the period. Constellation Brands accounts for 1.2% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Peddock Capital Advisors LLC’s holdings in Constellation Brands were worth $4,703,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Orion Portfolio Solutions LLC grew its holdings in Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after buying an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in Constellation Brands by 16.5% during the first 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. grew its stake in Constellation Brands by 1.8% during the fourth 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. Smithfield Trust Co lifted its stake in Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after purchasing an additional 43 shares in the last quarter. Finally, Copperwynd Financial LLC boosted its holdings in Constellation Brands by 1.6% in the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after purchasing an additional 43 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 0.2 %

Shares of Constellation Brands stock traded up $0.46 during midday trading on Friday, hitting $245.70. The company had a trading volume of 588,553 shares, compared to its average volume of 1,186,995. The company has a 50 day moving average of $250.88 and a 200 day moving average of $253.94. The stock has a market capitalization of $44.96 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.62 and a beta of 1.75. 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.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results 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. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.91 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share 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. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STZ. UBS Group increased their price objective on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Roth Mkm dropped their price target on Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research report on Friday, July 5th. BMO Capital Markets restated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Barclays raised their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group raised their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $300.28.

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.