Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,553 shares of the company’s stock after selling 23,734 shares during the period. Douglas Lane & Associates LLC owned about 0.10% of Constellation Brands worth $46,527,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the 2nd quarter valued at about $32,000. Kapitalo Investimentos Ltda acquired a new position in Constellation Brands during the 4th quarter valued at about $35,000. Finally, First Financial Corp IN acquired a new position in Constellation Brands during the 1st quarter valued at about $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.6 %

Shares of Constellation Brands stock traded up $1.46 during trading on Friday, hitting $241.06. The stock had a trading volume of 1,108,158 shares, compared to its average volume of 1,188,298. The stock has a 50 day simple moving average of $246.10 and a 200 day simple moving average of $252.41. The company has a market capitalization of $44.11 billion, a PE ratio of 17.96, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. 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 earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is presently 30.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group reduced 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. BMO Capital Markets restated an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group boosted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.06.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the business’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 transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.19% of the stock is currently owned by insiders.

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.