Gabelli Funds LLC Lowers Stake in Constellation Brands, Inc. (NYSE:STZ)

Gabelli Funds LLC lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 51,400 shares of the company’s stock after selling 200 shares during the period. Gabelli Funds LLC’s holdings in Constellation Brands were worth $12,651,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STZ. Smithfield Trust Co increased its position in shares of Constellation Brands by 4.7% in the second quarter. Smithfield Trust Co now owns 823 shares of the company’s stock worth $205,000 after acquiring an additional 37 shares in the last quarter. Copperwynd Financial LLC boosted its stake in shares of Constellation Brands by 1.3% in the second quarter. Copperwynd Financial LLC now owns 2,855 shares of the company’s stock valued at $703,000 after purchasing an additional 38 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Constellation Brands by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 1,794 shares of the company’s stock valued at $442,000 after purchasing an additional 39 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Constellation Brands by 0.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 8,636 shares of the company’s stock valued at $2,125,000 after purchasing an additional 41 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in shares of Constellation Brands by 24.0% in the second quarter. Lindbrook Capital LLC now owns 217 shares of the company’s stock valued at $53,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 136,362 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $242.27, for a total transaction of $33,036,421.74. Following the completion of the transaction, the insider now owns 681,792 shares in the company, valued at approximately $165,177,747.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Up 0.6 %

STZ stock opened at $236.95 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.20 and a debt-to-equity ratio of 1.10. Constellation Brands, Inc. has a fifty-two week low of $208.12 and a fifty-two week high of $273.65. The firm’s 50-day simple moving average is $242.95 and its 200 day simple moving average is $248.47. The stock has a market cap of $43.53 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.37 by $0.33. Constellation Brands had a net margin of 14.41% and a return on equity of 23.35%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the company earned $3.17 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 11.87 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $3.56 annualized dividend and a yield of 1.50%. Constellation Brands’s payout ratio is 43.36%.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research analyst reports. Roth Mkm reiterated a “buy” rating and set a $311.00 price objective on shares of Constellation Brands in a research note on Friday, October 6th. Barclays reduced their price objective on shares of Constellation Brands from $294.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, October 6th. Morgan Stanley increased their price objective on shares of Constellation Brands from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, July 24th. Wedbush increased their price objective on shares of Constellation Brands from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd. Finally, Jefferies Financial Group initiated coverage on shares of Constellation Brands in a research note on Monday, November 13th. They set a “buy” rating and a $292.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.38.

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.