Constellation Brands, Inc. (NYSE:STZ) Shares Sold by South Street Advisors LLC

South Street Advisors LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,643 shares of the company's stock after selling 3,061 shares during the quarter. Constellation Brands accounts for approximately 1.8% of South Street Advisors LLC's portfolio, making the stock its 26th biggest position. South Street Advisors LLC's holdings in Constellation Brands were worth $12,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New Millennium Group LLC acquired a new position in shares of Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $32,000. LRI Investments LLC acquired a new position in shares of Constellation Brands in the first quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Down 1.9 %

NYSE STZ traded down $4.49 during mid-day trading on Friday, reaching $237.51. 1,426,660 shares of the company's stock traded hands, compared to its average volume of 1,203,183. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a fifty day simple moving average of $244.13 and a 200-day simple moving average of $248.09. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a market cap of $43.12 billion, a price-to-earnings ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is 130.74%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STZ. Roth Mkm reaffirmed a "buy" rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. Barclays reduced their price objective on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research report on Monday, October 7th. Bank of America reiterated a "neutral" rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and reduced their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $290.47.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,296 shares of company stock valued at $45,899,031 in the last quarter. Corporate insiders own 12.19% 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 Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.