Signaturefd LLC Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Signaturefd LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,233 shares of the company’s stock after selling 64 shares during the quarter. Signaturefd LLC’s holdings in Constellation Brands were worth $317,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands in the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands during the 2nd quarter valued at about $32,000. YHB Investment Advisors Inc. purchased a new stake in shares of Constellation Brands during the 1st quarter valued at about $35,000. Finally, First Financial Corp IN bought a new stake in shares of Constellation Brands in the first quarter worth approximately $35,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,414 shares of company stock valued at $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STZ shares. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Jefferies Financial Group lifted their price objective on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. UBS Group raised their target price on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and an average target price of $299.21.

Constellation Brands Price Performance

NYSE:STZ opened at $240.71 on Friday. The stock has a market cap of $44.04 billion, a PE ratio of 17.94, a P/E/G ratio of 1.62 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $247.73 and its two-hundred day simple moving average is $253.58. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the company earned $2.91 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is 30.10%.

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.