LMR Partners LLP Buys 17,502 Shares of Constellation Brands, Inc. (NYSE:STZ)

LMR Partners LLP boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 87.5% in the third quarter, HoldingsChannel reports. The firm owned 37,500 shares of the company’s stock after purchasing an additional 17,502 shares during the quarter. LMR Partners LLP’s holdings in Constellation Brands were worth $9,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands during the second quarter worth $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $36,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Down 1.9 %

STZ stock opened at $237.51 on Monday. The stock has a market capitalization of $43.12 billion, a P/E ratio of 76.86, a price-to-earnings-growth ratio of 1.68 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, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The firm has a 50-day moving average price of $244.13 and a 200-day moving average price of $248.01.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,296 shares of company stock worth $45,899,031 in the last quarter. 12.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on STZ shares. 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 report on Tuesday, October 8th. 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 report on Tuesday, October 15th. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Morgan Stanley reduced their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

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.