Huntington National Bank Buys 8,949 Shares of Constellation Brands, Inc. (NYSE:STZ)

Huntington National Bank raised its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 297,153 shares of the company's stock after buying an additional 8,949 shares during the period. Huntington National Bank owned 0.16% of Constellation Brands worth $76,573,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Constellation Brands by 71.0% during the 1st quarter. Empowered Funds LLC now owns 3,316 shares of the company's stock valued at $901,000 after purchasing an additional 1,377 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Constellation Brands by 12.4% in the first quarter. QRG Capital Management Inc. now owns 3,265 shares of the company's stock valued at $887,000 after buying an additional 360 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Constellation Brands by 14.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,814 shares of the company's stock worth $15,986,000 after buying an additional 7,343 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Constellation Brands by 5.7% during the 1st quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company's stock worth $780,000 after acquiring an additional 154 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Constellation Brands by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 40,095 shares of the company's stock valued at $10,896,000 after purchasing an additional 8,585 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was 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 of the company's stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William A. Newlands sold 7,426 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business'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 transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,210 shares of company stock worth $31,040,994 in the last three months. Insiders own 12.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on STZ. 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 research report on Friday, October 4th. TD Cowen cut Constellation Brands from a "buy" rating to a "hold" rating and decreased their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Bank of America reissued a "neutral" rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, BMO Capital Markets lowered their price target on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $290.47.

Constellation Brands Stock Up 1.2 %

Shares of NYSE:STZ traded up $2.86 during midday trading on Thursday, reaching $243.57. 410,200 shares of the company were exchanged, compared to its average volume of 1,198,941. The firm has a market cap of $44.22 billion, a PE ratio of 78.19, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock has a fifty day simple moving average of $244.49 and a two-hundred day simple moving average of $248.30.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share 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 company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the prior year, the firm earned $3.70 earnings per share. Constellation Brands's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. Constellation Brands's dividend payout ratio is 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.