iA Global Asset Management Inc. Sells 3,451 Shares of Constellation Brands, Inc. (NYSE:STZ)

iA Global Asset Management Inc. reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 58.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,411 shares of the company's stock after selling 3,451 shares during the quarter. iA Global Asset Management Inc.'s holdings in Constellation Brands were worth $621,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of STZ. Paloma Partners Management Co lifted its stake in shares of Constellation Brands by 568.4% in the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company's stock valued at $7,731,000 after acquiring an additional 25,512 shares during the last quarter. Empowered Funds LLC raised its holdings in Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company's stock valued at $2,624,000 after buying an additional 7,752 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Constellation Brands during the 3rd quarter worth approximately $2,132,000. WealthPlan Investment Management LLC raised 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 valued at $7,772,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in shares of Constellation Brands by 7.1% in the third quarter. Chartwell Investment Partners LLC now owns 39,431 shares of the company's stock valued at $10,161,000 after buying an additional 2,627 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of STZ stock traded down $1.71 on Tuesday, reaching $242.60. The company's stock had a trading volume of 1,035,089 shares, compared to its average volume of 1,208,367. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The stock's 50 day simple moving average is $239.83 and its 200-day simple moving average is $246.21. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $44.05 billion, a P/E ratio of 78.51, a PEG ratio of 1.69 and a beta of 0.90.

Constellation Brands (NYSE:STZ - Get Free Report) last announced 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 net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business earned $3.70 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. Constellation Brands's payout ratio is 130.74%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STZ. Needham & Company LLC assumed coverage on shares of Constellation Brands in a research note on Friday. They issued a "buy" rating and a $280.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 26th. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and decreased their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Roth Mkm reaffirmed a "buy" rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Finally, BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They set a "neutral" rating and a $261.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.70.

Insider Activity

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the firm's stock in a transaction on 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 owns 7,274 shares of the company's stock, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, 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 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company's stock.

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.