Atria Investments LLC cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,301 shares of the company’s stock after selling 563 shares during the period. Atria Investments LLC’s holdings in Constellation Brands were worth $496,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. New England Research & Management Inc. purchased a new stake in shares of Constellation Brands in the third quarter worth approximately $634,000. Toth Financial Advisory Corp raised its holdings in shares of Constellation Brands by 1,469.8% in the second quarter. Toth Financial Advisory Corp now owns 675 shares of the company’s stock worth $148,000 after buying an additional 632 shares during the period. Arrow Financial Corp raised its holdings in shares of Constellation Brands by 4.0% in the second quarter. Arrow Financial Corp now owns 8,946 shares of the company’s stock worth $1,958,000 after buying an additional 341 shares during the period. HRT Financial LLC raised its holdings in shares of Constellation Brands by 71.3% in the second quarter. HRT Financial LLC now owns 22,518 shares of the company’s stock worth $4,928,000 after buying an additional 9,374 shares during the period. Finally, Cozad Asset Management Inc. purchased a new stake in shares of Constellation Brands in the second quarter worth approximately $5,809,000. 73.90% of the stock is owned by institutional investors.
In other Constellation Brands news, CEO Robert Sands sold 151,060 shares of Constellation Brands stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the completion of the sale, the chief executive officer now owns 737,607 shares of the company’s stock, valued at approximately $164,980,557.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard Sands sold 148,773 shares of Constellation Brands stock in a transaction dated Monday, October 22nd. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 578,723 shares of company stock valued at $129,438,449 in the last three months. Insiders own 15.80% of the company’s stock.
Shares of NYSE:STZ traded down $1.59 on Friday, reaching $203.13. The company had a trading volume of 1,654,400 shares, compared to its average volume of 2,231,568. Constellation Brands, Inc. has a 52-week low of $196.26 and a 52-week high of $236.62. The company has a market capitalization of $39.17 billion, a PE ratio of 23.29, a P/E/G ratio of 2.00 and a beta of 0.08. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $2.47 EPS. Research analysts predict that Constellation Brands, Inc. will post 9.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a $0.74 dividend. The ex-dividend date is Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.46%. Constellation Brands’s payout ratio is 33.94%.
STZ has been the topic of several recent analyst reports. Deutsche Bank reduced their price target on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Bank of America reduced their price objective on Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Cann reduced their price objective on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Pivotal Research restated a “buy” rating and set a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, August 15th. Finally, Jefferies Financial Group started coverage on Constellation Brands in a report on Friday, September 7th. They set a “buy” rating and a $283.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $246.96.
About Constellation Brands
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.
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