The Manufacturers Life Insurance Company Sells 4,192 Shares of Constellation Brands, Inc. (NYSE:STZ)

The Manufacturers Life Insurance Company cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,796 shares of the company's stock after selling 4,192 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Constellation Brands worth $24,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Oakworth Capital Inc. lifted its position in Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company's stock worth $255,000 after buying an additional 42 shares in the last quarter. PFG Investments LLC raised its stake in Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company's stock valued at $296,000 after buying an additional 42 shares during the period. Brighton Jones LLC lifted its position in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company's stock valued at $244,000 after buying an additional 43 shares during the last quarter. Burns Matteson Capital Management LLC boosted its stake in shares of Constellation Brands by 1.5% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company's stock worth $749,000 after acquiring an additional 44 shares during the period. Finally, Metis Global Partners LLC increased its holdings in shares of Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company's stock worth $1,435,000 after acquiring an additional 46 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of research reports. BNP Paribas assumed coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a "neutral" rating and a $261.00 price target on the stock. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and cut their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Wells Fargo & Company reduced 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. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 15th. Finally, Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $289.16.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 7,426 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 in the last quarter. Corporate insiders own 12.19% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ stock traded up $4.98 during trading on Friday, reaching $240.95. The company had a trading volume of 833,709 shares, compared to its average volume of 1,386,526. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm's 50 day simple moving average is $241.72 and its two-hundred day simple moving average is $246.71. The company has a market capitalization of $43.75 billion, a PE ratio of 77.98, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the business posted $3.70 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

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