W.G. Shaheen & Associates DBA Whitney & Co Increases Position in Constellation Brands, Inc. (NYSE:STZ)

W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,219 shares of the company’s stock after acquiring an additional 373 shares during the period. Constellation Brands comprises approximately 2.1% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 12th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Constellation Brands were worth $19,383,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Capital International Investors boosted its position in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors boosted its position in Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the period. Capital Research Global Investors boosted its position in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during the period. Legal & General Group Plc boosted its position in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Constellation Brands by 31.8% during 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. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 189,296 shares of company stock worth $45,899,031 over the last 90 days. 12.19% of the stock is currently owned by insiders.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $238.06 on Tuesday. The company has a 50 day simple moving average of $243.88 and a two-hundred day simple moving average of $247.90. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. 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 company has a market capitalization of $43.22 billion, a price-to-earnings ratio of 77.04, a P/E/G ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior 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. Analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analyst Weigh In

Several research firms have issued reports on STZ. JPMorgan Chase & Co. cut their price target 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. Evercore ISI lowered their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Barclays lowered their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Finally, TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Company 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.