Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 906 shares of the company’s stock after selling 137 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Constellation Brands were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. New Millennium Group LLC bought a new position in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands in the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Constellation Brands in the second quarter worth approximately $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Constellation Brands stock opened at $236.34 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company’s 50-day moving average is $244.87 and its two-hundred day moving average is $248.68. The company has a market cap of $42.91 billion, a PE ratio of 76.49, a PEG ratio of 1.65 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.71%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands 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 completion of the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,210 shares of company stock valued at $31,040,994 in the last quarter. 12.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on STZ shares. JPMorgan Chase & Co. reduced their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. UBS Group cut their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Roth Mkm restated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.