Smith Graham & Co. Investment Advisors LP trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,868 shares of the company’s stock after selling 690 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Constellation Brands were worth $3,853,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC grew its stake in shares of Constellation Brands by 155.3% in the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after buying an additional 278 shares in the last quarter. Clarus Wealth Advisors purchased a new position in shares of Constellation Brands during the 2nd quarter worth about $111,000. Atlantic Trust LLC purchased a new position in shares of Constellation Brands during the 2nd quarter worth about $114,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Constellation Brands by 227.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock worth $115,000 after purchasing an additional 366 shares during the period. Finally, Stelac Advisory Services LLC purchased a new position in shares of Constellation Brands during the 2nd quarter worth about $125,000. Hedge funds and other institutional investors own 73.90% of the company’s stock.
In other news, Chairman Richard Sands sold 148,773 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $223.69, for a total value of $33,279,032.37. Following the sale, the chairman now directly owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas Michael Kane sold 4,419 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $223.83, for a total transaction of $989,104.77. Following the completion of the sale, the vice president now directly owns 8,499 shares in the company, valued at $1,902,331.17. The disclosure for this sale can be found here. Insiders have sold a total of 578,723 shares of company stock worth $129,438,449 in the last 90 days. 15.80% of the stock is currently owned by company insiders.
A number of research firms recently commented on STZ. ValuEngine cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Zacks Investment Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Macquarie set a $245.00 price target on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Friday, October 5th. Bank of America dropped their price target on shares of Constellation Brands from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Finally, Morgan Stanley dropped their price target on shares of Constellation Brands from $258.00 to $251.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $246.96.
Shares of NYSE STZ traded down $1.00 during trading hours on Thursday, hitting $205.75. 40,482 shares of the stock were exchanged, compared to its average volume of 2,240,379. The company has a quick ratio of 0.76, a current ratio of 1.66 and a debt-to-equity ratio of 0.80. The firm has a market cap of $38.65 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.97 and a beta of 0.08. Constellation Brands, Inc. has a 12 month low of $196.26 and a 12 month high of $236.62.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 4th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.60 by $0.27. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the business posted $2.47 EPS. Constellation Brands’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 9.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th will be paid a dividend of $0.74 per share. The ex-dividend date is Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a yield of 1.44%. Constellation Brands’s payout ratio is 33.94%.
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
The shares of Constellation Brands, Inc. (NYSE:STZ) went up during the trading session by $2.75 on Wednesday, trading at $206.75. At the moment, the company has a debt-to-equity ratio of 0.88, a current ratio of 1.70, and a quick ratio of 0.80. The stock has a 52-week low of $196.26 while its 52-weeks high is $236.62. The total market cap for the stock is $39.04B while it has a PE ratio of 15.51, its price-to-earnings-growth ratio reads 4.93 while it has a beta of 0.06.
STZ has flown up as the subject of gossips for a number of analysts. Analysts at Pivotal Research Group Reiterated the shares of Constellation Brands, Inc to Buy when they released a research note on October 5th, 2018, but they now have set a price target of $300, which is an increase from the previous $265. Susquehanna analysts Reiterated the shares of Constellation Brands, Inc. to Negative in a research note they presented on October 1st, 2018 but they now have set a price target of $165, which is decrease from the previous $171. Analysts at SunTrust Downgrade the shares of Constellation Brands, Inc. from Buy to Hold when they released a research note on September 10th, 2018, but they now have set a price target of $15.
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