American Century Companies Inc. Sells 41,845 Shares of Constellation Brands, Inc. (NYSE:STZ)

American Century Companies Inc. cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 1,322,343 shares of the company’s stock after selling 41,845 shares during the period. American Century Companies Inc.’s holdings in Constellation Brands were worth $340,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC boosted its position in Constellation Brands by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after buying an additional 39 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after buying an additional 41 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in Constellation Brands by 1.8% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after buying an additional 42 shares during the last quarter. Copperwynd Financial LLC boosted its position in Constellation Brands by 1.6% in the 4th quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock valued at $672,000 after buying an additional 43 shares during the last quarter. Finally, RDA Financial Network boosted its position in Constellation Brands by 2.3% in the 1st quarter. RDA Financial Network now owns 1,923 shares of the company’s stock valued at $523,000 after buying an additional 44 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now 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 available through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated 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 owns 11,702 shares in the company, valued at $2,808,480. The transaction 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 dated Friday, July 12th. The stock was 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 of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 in the last quarter. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

STZ opened at $248.79 on Thursday. The business’s 50-day moving average price is $246.02 and its two-hundred day moving average price is $253.79. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a market capitalization of $45.52 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.67 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 (NYSE:STZ) last released its quarterly 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. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.91 EPS. Equities analysts expect that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STZ shares. Morgan Stanley cut their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. UBS Group cut 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. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, Barclays increased their price target on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average 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.