LMR Partners LLP Grows Position in Constellation Brands, Inc. (NYSE:STZ)

LMR Partners LLP grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 87.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 37,500 shares of the company's stock after acquiring an additional 17,502 shares during the quarter. LMR Partners LLP's holdings in Constellation Brands were worth $9,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. LRI Investments LLC purchased a new stake in shares of Constellation Brands during the 1st quarter worth approximately $37,000. Finally, Opal Wealth Advisors LLC bought a new stake in Constellation Brands during the 2nd quarter valued at $36,000. Institutional investors own 77.34% of the company's stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands 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 directly owns 4,970 shares of the company's stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,296 shares of company stock valued at $45,899,031. Corporate insiders own 12.19% of the company's stock.

Constellation Brands Stock Performance

STZ traded up $0.64 during trading on Monday, hitting $238.15. The company's stock had a trading volume of 584,296 shares, compared to its average volume of 1,200,407. 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 one year low of $224.76 and a one year high of $274.87. The firm has a market cap of $43.24 billion, a PE ratio of 76.86, a P/E/G ratio of 1.68 and a beta of 0.90. The business's 50 day simple moving average is $244.13 and its 200-day simple moving average is $248.01.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.70 EPS. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business 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 dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.70%. Constellation Brands's payout ratio is 130.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Roth Mkm reissued a "buy" rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Barclays cut 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 for the company in a research note on Tuesday, October 15th. Morgan Stanley lowered their price objective 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $290.47.

Constellation Brands 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.