Herold Advisors Inc. Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Herold Advisors Inc. reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZGet Rating) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,375 shares of the company’s stock after selling 50 shares during the quarter. Herold Advisors Inc.’s holdings in Constellation Brands were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Constellation Brands by 1.2% in the first quarter. BlackRock Inc. now owns 11,738,986 shares of the company’s stock valued at $2,703,724,000 after purchasing an additional 140,074 shares in the last quarter. Capital World Investors grew its holdings in shares of Constellation Brands by 4.5% in the first quarter. Capital World Investors now owns 9,203,388 shares of the company’s stock valued at $2,119,724,000 after purchasing an additional 392,964 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Constellation Brands by 48.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,885,267 shares of the company’s stock valued at $724,116,000 after purchasing an additional 943,872 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Constellation Brands by 8.0% in the first quarter. Bank of America Corp DE now owns 2,376,746 shares of the company’s stock valued at $547,412,000 after purchasing an additional 176,991 shares in the last quarter. 73.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 2,270 shares of Constellation Brands stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $255.92, for a total value of $580,938.40. Following the transaction, the chief financial officer now owns 7,176 shares in the company, valued at $1,836,481.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 2,270 shares of Constellation Brands stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $255.92, for a total value of $580,938.40. Following the transaction, the chief financial officer now owns 7,176 shares in the company, valued at $1,836,481.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Sands sold 1,427,799 shares of Constellation Brands stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the transaction, the insider now owns 550,214 shares in the company, valued at approximately $133,597,461.34. The disclosure for this sale can be found here. Insiders have sold 1,619,248 shares of company stock worth $393,239,506 over the last quarter. Insiders own 16.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STZ shares. UBS Group lowered their price target on Constellation Brands from $285.00 to $270.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft lowered their price target on Constellation Brands from $248.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, July 1st. Morgan Stanley raised their price target on Constellation Brands from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 21st. JPMorgan Chase & Co. raised their price target on Constellation Brands from $263.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, September 15th. Finally, Credit Suisse Group lowered their price target on Constellation Brands from $295.00 to $292.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $272.73.

Constellation Brands Stock Down 2.3 %

Shares of Constellation Brands stock traded down $5.33 during trading on Friday, hitting $231.26. 1,354,565 shares of the stock traded hands, compared to its average volume of 1,016,545. The firm has a market cap of $42.73 billion, a P/E ratio of 35.74, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. Constellation Brands, Inc. has a 52-week low of $207.59 and a 52-week high of $261.52. The stock’s fifty day simple moving average is $245.44 and its 200 day simple moving average is $241.30.

Constellation Brands (NYSE:STZGet Rating) last announced its quarterly earnings results on Thursday, June 30th. The company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.16 billion. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 11.09 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.38%. Constellation Brands’s dividend payout ratio is currently 14.05%.

Constellation Brands Profile

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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