Great Lakes Advisors LLC Cuts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Great Lakes Advisors LLC lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,490 shares of the company’s stock after selling 4,674 shares during the quarter. Great Lakes Advisors LLC’s holdings in Constellation Brands were worth $8,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of STZ. Narwhal Capital Management raised its holdings in shares of Constellation Brands by 22.3% in the second quarter. Narwhal Capital Management now owns 22,556 shares of the company’s stock valued at $5,803,000 after purchasing an additional 4,115 shares during the last quarter. Candriam S.C.A. increased its stake in Constellation Brands by 2.5% in the 2nd quarter. Candriam S.C.A. now owns 9,779 shares of the company’s stock valued at $2,516,000 after buying an additional 236 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Constellation Brands by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 47,694 shares of the company’s stock worth $12,271,000 after buying an additional 483 shares in the last quarter. Denver PWM LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth approximately $42,000. Finally, 9258 Wealth Management LLC grew its holdings in shares of Constellation Brands by 55.7% in the second quarter. 9258 Wealth Management LLC now owns 1,249 shares of the company’s stock valued at $321,000 after acquiring an additional 447 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on STZ. UBS Group lifted their price target on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, September 3rd. Jefferies Financial Group increased their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Barclays lifted their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $298.17.

Insider Transactions at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The shares were 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 directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last quarter. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 0.3 %

Shares of NYSE:STZ opened at $249.01 on Friday. The firm has a fifty day moving average price of $246.35 and a two-hundred day moving average price of $253.71. The company has a market cap of $45.56 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.59 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data 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. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.91 earnings per share. Analysts anticipate that Constellation Brands, Inc. will post 13.54 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 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.