Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. trimmed its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,208 shares of the company's stock after selling 8,215 shares during the period. Constellation Brands accounts for about 1.2% of Howe & Rusling Inc.'s investment portfolio, making the stock its 20th biggest holding. Howe & Rusling Inc.'s holdings in Constellation Brands were worth $14,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new position in Constellation Brands in the second quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at about $36,000. Institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and dropped their price target for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Evercore ISI dropped their target price on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. BMO Capital Markets decreased their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday. Finally, Morgan Stanley dropped their price target on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $290.47.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business'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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is owned by company insiders.

Constellation Brands Stock Down 0.3 %

Shares of NYSE:STZ traded down $0.69 on Wednesday, reaching $239.75. The company had a trading volume of 1,046,078 shares, compared to its average volume of 1,200,935. The firm has a market capitalization of $43.53 billion, a PE ratio of 77.81, a PEG ratio of 1.68 and a beta of 0.90. The firm's 50 day simple moving average is $243.70 and its 200-day simple moving average is $247.79. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The business's quarterly revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands's dividend payout ratio (DPR) is 130.74%.

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.