KBC Group NV Sells 201,119 Shares of Constellation Brands, Inc. (NYSE:STZ)

KBC Group NV trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 50.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,214 shares of the company's stock after selling 201,119 shares during the period. KBC Group NV owned 0.11% of Constellation Brands worth $51,078,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company's stock valued at $3,724,686,000 after buying an additional 462,891 shares during the period. Capital International Investors increased its holdings in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company's stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors lifted its position in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company's stock worth $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company's stock worth $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Legal & General Group Plc grew its position in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company's stock valued at $343,717,000 after purchasing an additional 72,637 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America reissued a "neutral" rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Roth Mkm reiterated a "buy" rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Royal Bank of Canada restated an "outperform" rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. Finally, TD Cowen lowered Constellation Brands from a "buy" rating to a "hold" rating and reduced their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus price target of $290.47.

Constellation Brands Stock Performance

STZ traded down $4.49 during trading on Friday, hitting $237.51. The stock had a trading volume of 1,425,616 shares, compared to its average volume of 1,203,183. The firm has a market cap of $43.12 billion, a PE ratio of 77.63, a P/E/G ratio of 1.70 and a beta of 0.90. 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, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a 50 day simple moving average of $244.36 and a 200-day simple moving average of $248.25.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 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 analyst estimates of $2.95 billion. During the same period in the previous year, the company posted $3.70 earnings per share. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.57 EPS 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 given a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands's dividend payout ratio is 130.74%.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares of the company's stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % 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 company's stock in a transaction on Monday, October 14th. The shares were 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. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,296 shares of company stock worth $45,899,031. 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.