Rockefeller Capital Management L.P. Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Rockefeller Capital Management L.P. reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,306 shares of the company's stock after selling 5,580 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.06% of Constellation Brands worth $26,880,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STZ. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands during the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $32,000. LRI Investments LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at about $37,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $36,000. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 in the last 90 days. 12.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on STZ shares. Bank of America restated a "neutral" rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 15th. Evercore ISI reduced their target price on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Roth Mkm restated a "buy" rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Morgan Stanley decreased their target price on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $289.16.

Constellation Brands Stock Performance

Shares of STZ stock traded up $4.98 during trading hours on Friday, hitting $240.95. The company's stock had a trading volume of 833,709 shares, compared to its average volume of 1,386,526. The stock has a market cap of $43.75 billion, a PE ratio of 77.98, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. 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 moving average of $241.72 and a 200 day moving average of $246.75. 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 (NYSE:STZ - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $3.70 EPS. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands's dividend payout ratio is presently 130.74%.

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.