Atria Investments Inc Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Atria Investments Inc reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,683 shares of the company’s stock after selling 4,123 shares during the period. Atria Investments Inc’s holdings in Constellation Brands were worth $5,845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Orion Portfolio Solutions LLC raised its holdings in Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after purchasing an additional 39 shares during the last quarter. Oakworth Capital Inc. raised its stake in shares of Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after buying an additional 42 shares during the last quarter. PFG Investments LLC boosted its position in shares of Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares in the last quarter. Brighton Jones LLC grew its stake in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after acquiring an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in Constellation Brands by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after acquiring an additional 44 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.8 %

STZ stock opened at $236.34 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market cap of $42.91 billion, a price-to-earnings ratio of 76.49, a PEG ratio of 1.65 and a beta of 1.75. The business has a fifty day simple moving average of $244.87 and a 200-day simple moving average of $248.68. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.71%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Transactions at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction 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 owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the firm’s 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 transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s 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 sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock valued at $31,040,994 over the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STZ shares. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, TD Cowen downgraded shares of 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. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

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.