Townsquare Capital LLC Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Townsquare Capital LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 40.2% in the third quarter, Holdings Channel reports. The institutional investor owned 6,042 shares of the company’s stock after selling 4,070 shares during the period. Townsquare Capital LLC’s holdings in Constellation Brands were worth $1,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Oakworth Capital Inc. lifted its stake in Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the last quarter. PFG Investments LLC raised its holdings in Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after buying an additional 43 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Constellation Brands by 0.8% in the 3rd 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 in the last quarter. Finally, Umpqua Bank grew its position in shares of Constellation Brands by 4.6% in the 2nd quarter. Umpqua Bank now owns 1,124 shares of the company’s stock valued at $289,000 after buying an additional 49 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Bank of America reissued a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. BNP Paribas began coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Trading Up 2.1 %

Shares of STZ stock opened at $240.95 on Monday. The business’s fifty day moving average price is $241.72 and its 200 day moving average price is $246.71. The firm has a market capitalization of $43.75 billion, a PE ratio of 77.98, a P/E/G ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87.

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 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 business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company posted $3.70 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s payout ratio is 130.74%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 in the last quarter. 12.19% of the stock is currently owned by corporate insiders.

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.