Constellation Brands, Inc. (NYSE:STZ) Stock Position Cut by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 57.3% during the third quarter, Holdings Channel reports. The institutional investor owned 26,841 shares of the company’s stock after selling 35,945 shares during the period. Sanctuary Advisors LLC’s holdings in Constellation Brands were worth $6,433,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in STZ. Diversified Trust Co acquired a new stake in Constellation Brands in the second quarter worth approximately $225,000. Swedbank AB raised its stake in shares of Constellation Brands by 16.3% in the 2nd quarter. Swedbank AB now owns 2,400 shares of the company’s stock worth $617,000 after buying an additional 337 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of Constellation Brands by 4.6% in the second quarter. Brookstone Capital Management now owns 14,673 shares of the company’s stock valued at $3,642,000 after buying an additional 647 shares during the period. Raymond James & Associates boosted its stake in Constellation Brands by 14.4% during the second quarter. Raymond James & Associates now owns 443,084 shares of the company’s stock valued at $113,997,000 after buying an additional 55,932 shares in the last quarter. Finally, Meridian Investment Counsel Inc. raised its position in Constellation Brands by 1.6% in the second quarter. Meridian Investment Counsel Inc. now owns 3,110 shares of the company’s stock worth $800,000 after acquiring an additional 50 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Up 0.1 %

STZ stock opened at $239.66 on Friday. The company has a 50 day moving average of $238.99 and a two-hundred day moving average of $246.02. The company has a market cap of $43.51 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

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

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STZ shares. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Morgan Stanley decreased their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Evercore ISI cut their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.70.

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.