Mercer Global Advisors Inc. ADV Sells 705 Shares of Constellation Brands, Inc. (NYSE:STZ)

Mercer Global Advisors Inc. ADV decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,955 shares of the company’s stock after selling 705 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Constellation Brands were worth $5,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. New Millennium Group LLC bought a new position in shares of Constellation Brands in the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands during the second quarter valued at about $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands in the 1st quarter valued at about $35,000. Finally, First Financial Corp IN purchased a new stake in Constellation Brands during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.1 %

Shares of NYSE:STZ opened at $248.09 on Friday. 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, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The business has a 50 day moving average of $245.42 and a two-hundred day moving average of $253.90. The company has a market capitalization of $45.39 billion, a PE ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted 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 net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the business posted $2.91 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.63%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the 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 transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley decreased their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. UBS Group dropped their price target 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Roth Mkm lowered their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $296.78.

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.