Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Decreased by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 47,529 shares of the company’s stock after selling 2,373 shares during the quarter. Van ECK Associates Corp’s holdings in Constellation Brands were worth $11,475,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Capital International Investors boosted its holdings in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors boosted its holdings in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors boosted its holdings in shares of Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,793 shares of company stock valued at $34,300,914 in the last 90 days. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Trading Down 1.1 %

Shares of STZ stock opened at $236.99 on Wednesday. Constellation Brands, Inc. has a 1 year low of $231.70 and a 1 year high of $274.87. The firm’s fifty day simple moving average is $245.30 and its 200 day simple moving average is $249.29. The firm has a market capitalization of $43.03 billion, a P/E ratio of 76.70, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90. 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 (NYSE:STZ) last announced its 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 business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side 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 will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analysts Set New Price Targets

Several research firms recently commented on STZ. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Evercore ISI reduced their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Finally, BMO Capital Markets reduced their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.