M&T Bank Corp reduced its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,107 shares of the company's stock after selling 20,537 shares during the period. M&T Bank Corp's holdings in Constellation Brands were worth $19,354,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in STZ. International Assets Investment Management LLC boosted its stake in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after buying an additional 497,543 shares during the period. State Street Corp boosted its stake in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock valued at $1,841,048,000 after buying an additional 402,211 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock valued at $257,865,000 after buying an additional 241,982 shares during the period. NFJ Investment Group LLC boosted its stake in shares of Constellation Brands by 617.3% in the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company's stock valued at $27,929,000 after buying an additional 93,273 shares during the period. Finally, World Investment Advisors LLC boosted its stake in shares of Constellation Brands by 4,601.2% in the third quarter. World Investment Advisors LLC now owns 87,771 shares of the company's stock valued at $22,618,000 after buying an additional 85,904 shares during the period. 77.34% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company's stock, valued at $418,589,044. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on STZ shares. Royal Bank of Canada restated an "outperform" rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, November 19th. BNP Paribas started coverage on Constellation Brands in a research note on Monday, November 25th. They set a "neutral" rating and a $261.00 target price for the company. Needham & Company LLC started coverage on Constellation Brands in a research note on Friday, December 6th. They set a "buy" rating and a $280.00 target price for the company. Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped 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. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average price target of $288.70.
Read Our Latest Analysis on Constellation Brands
Constellation Brands Trading Down 1.1 %
Constellation Brands stock traded down $2.76 during trading hours on Wednesday, reaching $239.84. 1,540,370 shares of the company's stock were exchanged, compared to its average volume of 1,209,827. 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 firm's 50 day simple moving average is $239.53 and its 200 day simple moving average is $246.17. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The firm has a market capitalization of $43.55 billion, a PE ratio of 79.14, a PEG ratio of 1.69 and a beta of 1.75.
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 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 firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 EPS. The business's revenue was up 2.9% compared to the same quarter last year. Research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.
Constellation Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. Constellation Brands's payout ratio is currently 130.74%.
About Constellation Brands
(
Free Report)
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.
See Also
Before you consider Constellation Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Constellation Brands wasn't on the list.
While Constellation Brands currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
