Constellation Brands, Inc. (NYSE:STZ) Holdings Cut by Infusive Asset Management Inc.

Infusive Asset Management Inc. cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 56.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,609 shares of the company's stock after selling 8,650 shares during the quarter. Infusive Asset Management Inc.'s holdings in Constellation Brands were worth $1,703,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in STZ. Manning & Napier Advisors LLC bought a new stake in Constellation Brands in the 2nd quarter worth approximately $119,394,000. Empowered Funds LLC lifted its holdings in shares of Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company's stock valued at $2,624,000 after purchasing an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Constellation Brands during the third quarter valued at $2,132,000. WealthPlan Investment Management LLC increased its position in Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company's stock worth $7,772,000 after buying an additional 6,867 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Constellation Brands during the first quarter worth about $561,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America reissued a "neutral" rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a report on Monday, September 9th. Roth Mkm reissued a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research report on Friday, October 4th. Finally, BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $289.16.

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company's stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

STZ traded up $4.98 during trading on Friday, reaching $240.95. The company's stock had a trading volume of 833,709 shares, compared to its average volume of 1,206,769. The company's fifty day moving average price is $241.87 and its 200-day moving average price is $246.92. The company has a market capitalization of $43.75 billion, a price-to-earnings ratio of 77.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during 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 revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.70 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. Constellation Brands's payout ratio is currently 130.74%.

Constellation Brands Company Profile

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.