Constellation Brands, Inc. (NYSE:STZ) Stake Lessened by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,159 shares of the company’s stock after selling 11,057 shares during the quarter. Bank of Montreal Can owned approximately 0.17% of Constellation Brands worth $79,370,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in STZ. Legal & General Group Plc lifted its position in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the last quarter. Boston Partners grew its position in shares of Constellation Brands by 50.9% in the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after acquiring an additional 328,881 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $119,394,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on STZ shares. Morgan Stanley lowered 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 note on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Barclays reduced their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $289.16.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 3.3 %

Shares of Constellation Brands stock opened at $233.68 on Wednesday. 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 12-month low of $224.76 and a 12-month high of $274.87. The firm has a market capitalization of $42.43 billion, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock’s fifty day moving average is $242.42 and its 200-day moving average is $247.08.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. Constellation Brands’s payout ratio is currently 130.74%.

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.