Cullen Frost Bankers Inc. Has $14.16 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Cullen Frost Bankers Inc. lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 55,046 shares of the company’s stock after selling 968 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Constellation Brands were worth $14,162,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital International Investors increased its position in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares in the last quarter. Norges Bank acquired a new position in Constellation Brands in the fourth quarter valued at about $443,844,000. Capital World Investors increased its holdings in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares in the last quarter. Boston Partners acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $156,358,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at about $119,394,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STZ shares. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, September 3rd. UBS Group increased their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Barclays boosted their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Finally, JPMorgan Chase & Co. cut their price target on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $298.17.

Constellation Brands Price Performance

NYSE:STZ opened at $249.01 on Friday. The stock has a market capitalization of $45.56 billion, a PE ratio of 18.56, a P/E/G ratio of 1.59 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The firm has a fifty day simple moving average of $246.35 and a 200 day simple moving average of $253.71. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.91 EPS. On average, research analysts expect that Constellation Brands, Inc. will post 13.54 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Constellation Brands Company 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.