Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,258 shares of the company’s stock after purchasing an additional 154 shares during the period. Patton Albertson Miller Group LLC’s holdings in Constellation Brands were worth $6,251,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages recently commented on STZ. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. BNP Paribas initiated coverage on Constellation Brands in a report on Monday. They set a “neutral” rating and a $261.00 price objective on the stock. UBS Group dropped their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $288.83.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’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 transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last ninety days. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

STZ opened at $241.67 on Tuesday. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $242.80 and a 200-day moving average price of $247.27. The stock has a market capitalization of $43.88 billion, a P/E ratio of 78.21, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted 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. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business posted $3.70 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. 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.