Susquehanna Portfolio Strategies LLC Decreases Stake in Constellation Brands, Inc. (NYSE:STZ)

Susquehanna Portfolio Strategies LLC cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 95.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,086 shares of the company’s stock after selling 115,549 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Constellation Brands were worth $1,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter worth $32,000. YHB Investment Advisors Inc. purchased a new position in shares of Constellation Brands in the first quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Constellation Brands during the 4th quarter valued at $35,000. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STZ shares. Roth Mkm reduced their price objective 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. UBS Group cut their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, September 17th. Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Finally, Barclays boosted their target price on Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a research note on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.12.

Insider Buying and Selling at Constellation Brands

In other news, 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 value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred 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 sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands 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 directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $258.40 on Friday. The business has a fifty day moving average price of $246.09 and a 200-day moving average price of $253.86. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The company has a market capitalization of $47.28 billion, a PE ratio of 19.25, a PEG ratio of 1.74 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.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $2.91 EPS. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Constellation Brands 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.