Hoertkorn Richard Charles lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the company’s stock after selling 1,000 shares during the period. Hoertkorn Richard Charles’ holdings in Constellation Brands were worth $985,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AXS Investments LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth $26,000. Old North State Trust LLC raised its position in shares of Constellation Brands by 500.0% during the first quarter. Old North State Trust LLC now owns 120 shares of the company’s stock worth $27,000 after purchasing an additional 100 shares during the period. Zions Bancorporation N.A. raised its position in shares of Constellation Brands by 135.6% during the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock worth $32,000 after purchasing an additional 80 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth $34,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Constellation Brands during the first quarter worth $37,000. Institutional investors own 88.99% of the company’s stock.
Constellation Brands Stock Down 0.6 %
Constellation Brands stock traded down $1.53 during mid-day trading on Friday, hitting $261.32. 230,959 shares of the company’s stock were exchanged, compared to its average volume of 1,175,525. Constellation Brands, Inc. has a fifty-two week low of $208.12 and a fifty-two week high of $273.65. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. The company’s 50 day simple moving average is $262.53 and its 200-day simple moving average is $241.57.
Constellation Brands Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, August 9th. Constellation Brands’s dividend payout ratio is -194.54%.
Analyst Ratings Changes
A number of research analysts have commented on the company. HSBC boosted their target price on Constellation Brands from $275.00 to $280.00 in a research note on Wednesday, June 7th. StockNews.com began coverage on Constellation Brands in a research note on Thursday, August 17th. They set a “hold” rating for the company. TD Cowen upgraded Constellation Brands from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $240.00 to $300.00 in a research note on Wednesday, September 6th. Jefferies Financial Group boosted their price objective on Constellation Brands from $293.00 to $300.00 in a research report on Tuesday, June 27th. Finally, BMO Capital Markets boosted their price objective on Constellation Brands from $265.00 to $290.00 and gave the stock an “outperform” rating in a research report on Monday, July 3rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.05.
In related news, CEO William A. Newlands sold 49,425 shares of Constellation Brands stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the completion of the transaction, the chief executive officer now owns 9,316 shares in the company, valued at $2,495,756.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the completion of the sale, the chief executive officer now owns 9,316 shares in the company, valued at $2,495,756.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.96, for a total value of $415,338.00. Following the completion of the sale, the chief financial officer now owns 9,491 shares of the company’s stock, valued at $2,543,208.36. The disclosure for this sale can be found here. Insiders sold 100,819 shares of company stock worth $27,054,755 in the last quarter. Corporate insiders own 16.19% of the company’s stock.
About Constellation Brands
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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