SG Americas Securities LLC Trims Stake in Constellation Brands, Inc. (NYSE:STZ)

SG Americas Securities LLC decreased its position in shares of Constellation Brands, Inc. (NYSE:STZGet Rating) by 83.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,400 shares of the company’s stock after selling 17,750 shares during the period. SG Americas Securities LLC’s holdings in Constellation Brands were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STZ. Curi Wealth Management LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $26,000. Wagner Wealth Management LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $26,000. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in shares of Constellation Brands in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STZ. Credit Suisse Group cut their price target on Constellation Brands from $295.00 to $292.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft cut their price target on Constellation Brands from $248.00 to $240.00 and set a “hold” rating on the stock in a research note on Friday, July 1st. TheStreet upgraded Constellation Brands from a “c+” rating to a “b-” rating in a research note on Thursday, April 28th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $278.00 to $276.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Finally, Wells Fargo & Company upped their price objective on Constellation Brands from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, June 8th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $271.00.

Constellation Brands Trading Down 0.9 %

NYSE:STZ opened at $244.15 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.40 and a quick ratio of 0.70. The firm has a market capitalization of $45.12 billion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02. Constellation Brands, Inc. has a one year low of $207.35 and a one year high of $261.52. The business has a fifty day moving average price of $241.13 and a 200-day moving average price of $237.06.

Constellation Brands (NYSE:STZGet Rating) last posted its quarterly earnings data on Thursday, June 30th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.36 billion during 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%. Constellation Brands’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 EPS. Sell-side analysts forecast that Constellation Brands, Inc. will post 10.91 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.31%. Constellation Brands’s dividend payout ratio (DPR) is 14.05%.

Insider Transactions at Constellation Brands

In other news, insider Robert Sands sold 1,427,799 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the sale, the insider now directly owns 550,214 shares in the company, valued at approximately $133,597,461.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 3,787 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $254.00, for a total value of $961,898.00. Following the completion of the sale, the chief executive officer now owns 14,798 shares in the company, valued at approximately $3,758,692. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Sands sold 1,427,799 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the sale, the insider now owns 550,214 shares of the company’s stock, valued at approximately $133,597,461.34. The disclosure for this sale can be found here. Insiders sold 1,614,918 shares of company stock worth $392,160,616 in the last three months. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Company 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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