Fmr LLC Has $357.51 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

FMR LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,387,347 shares of the company's stock after selling 310,442 shares during the period. FMR LLC owned 0.76% of Constellation Brands worth $357,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the 2nd quarter valued at about $119,394,000. Empowered Funds LLC boosted 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 worth $2,624,000 after acquiring an additional 7,752 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $2,132,000. WealthPlan Investment Management LLC increased its stake in shares of Constellation Brands by 29.5% during the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company's stock worth $7,772,000 after purchasing an additional 6,867 shares during the period. Finally, Swedbank AB acquired a new stake in Constellation Brands during the 1st quarter worth approximately $561,000. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company's stock.

Constellation Brands Price Performance

NYSE:STZ traded up $4.98 during trading hours on Friday, hitting $240.95. The company's stock had a trading volume of 833,709 shares, compared to its average volume of 1,386,526. 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 company has a market capitalization of $43.75 billion, a P/E ratio of 77.98, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The stock has a fifty day simple moving average of $241.72 and a 200-day simple moving average of $246.71.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm'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, analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on STZ shares. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating on the stock in a report on Friday, October 4th. Barclays reduced their target price on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating for the company in a research report on Monday, October 7th. BMO Capital Markets lowered their price target on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, August 26th. Finally, BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday, November 25th. They set a "neutral" rating and a $261.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $289.16.

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.