D1 Capital Partners L.P. Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

D1 Capital Partners L.P. reduced its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 533,050 shares of the company's stock after selling 41,383 shares during the period. Constellation Brands makes up approximately 2.7% of D1 Capital Partners L.P.'s investment portfolio, making the stock its 12th biggest position. D1 Capital Partners L.P. owned about 0.29% of Constellation Brands worth $137,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. International Assets Investment Management LLC grew its holdings in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at about $119,394,000. Boston Partners grew its position in shares of Constellation Brands by 50.9% during the 1st quarter. Boston Partners now owns 975,589 shares of the company's stock worth $265,099,000 after buying an additional 328,881 shares during the period. Dimensional Fund Advisors LP increased its stake in Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. Finally, Coho Partners Ltd. raised its stake in Constellation Brands by 40.1% during the 3rd quarter. Coho Partners Ltd. now owns 283,079 shares of the company's stock worth $72,947,000 after buying an additional 80,970 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STZ. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Tuesday. BNP Paribas started coverage on shares of Constellation Brands in a research report on Monday. They set a "neutral" rating and a $261.00 price target on the stock. Evercore ISI cut their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and a consensus target price of $289.16.

Insider Buying and Selling at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last 90 days. Insiders own 12.19% of the company's stock.

Constellation Brands Price Performance

Shares of STZ stock traded up $4.98 on Friday, hitting $240.95. 833,709 shares of the stock traded hands, compared to its average volume of 1,206,703. The firm has a market cap of $43.75 billion, a price-to-earnings ratio of 77.98, a PEG ratio of 1.67 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $241.87 and a two-hundred day simple moving average of $246.92. 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 released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, November 5th. 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.