D1 Capital Partners L.P. Sells 41,383 Shares of Constellation Brands, Inc. (NYSE:STZ)

D1 Capital Partners L.P. lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 533,050 shares of the company’s stock after selling 41,383 shares during the period. Constellation Brands accounts for about 2.7% of D1 Capital Partners L.P.’s holdings, making the stock its 12th biggest holding. D1 Capital Partners L.P.’s holdings in Constellation Brands were worth $137,362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oakworth Capital Inc. raised its stake in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after buying an additional 42 shares during the period. 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 raised its stake in 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 period. Burns Matteson Capital Management LLC raised its stake in Constellation Brands by 1.5% in the second quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock valued at $749,000 after buying an additional 44 shares during the period. Finally, Metis Global Partners LLC raised its stake in Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % 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 in the last three months. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 1.0 %

Shares of STZ stock opened at $235.97 on Friday. 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 market cap of $42.84 billion, a PE ratio of 76.37, a P/E/G ratio of 1.67 and a beta of 0.90. 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’s fifty day moving average price is $241.87 and its two-hundred day moving average price is $246.92.

Constellation Brands (NYSE:STZ) last announced 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 return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company earned $3.70 EPS. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. Equities analysts predict 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 was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STZ shares. Wells Fargo & Company dropped their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. BNP Paribas assumed coverage on Constellation Brands in a research note on Monday. They set a “neutral” rating and a $261.00 target price on the stock. Finally, BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $289.16.

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.