Confluence Investment Management LLC Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Confluence Investment Management LLC trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,582 shares of the company’s stock after selling 13,788 shares during the quarter. Confluence Investment Management LLC owned about 0.07% of Constellation Brands worth $27,533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Copley Financial Group Inc. purchased a new position in Constellation Brands during the 3rd quarter worth approximately $455,000. Oddo BHF Asset Management Sas purchased a new position in shares of Constellation Brands during the third quarter worth $223,000. Wilmington Savings Fund Society FSB raised its holdings in shares of Constellation Brands by 260.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company’s stock worth $5,281,000 after purchasing an additional 14,813 shares during the last quarter. Arvest Bank Trust Division acquired a new position in Constellation Brands during the third quarter valued at $243,000. Finally, World Investment Advisors LLC boosted its holdings in Constellation Brands by 36.6% in the third quarter. World Investment Advisors LLC now owns 2,550 shares of the company’s stock valued at $657,000 after purchasing an additional 683 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the 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 represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. UBS Group dropped their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $288.70.

Constellation Brands Trading Up 0.5 %

Shares of Constellation Brands stock traded up $1.14 during trading hours on Thursday, hitting $222.14. The company’s stock had a trading volume of 250,966 shares, compared to its average volume of 1,237,062. The firm has a fifty day moving average of $234.84 and a 200-day moving average of $243.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a market cap of $40.33 billion, a price-to-earnings ratio of 71.89, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $219.54 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its 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 during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 earnings per share. Research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

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.