Baldwin Investment Management LLC Has $2.29 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Baldwin Investment Management LLC lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,870 shares of the company’s stock after selling 1,249 shares during the period. Baldwin Investment Management LLC’s holdings in Constellation Brands were worth $2,286,000 as of its most recent SEC filing.

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

Constellation Brands Trading Down 3.3 %

Shares of Constellation Brands stock opened at $233.68 on Wednesday. The company’s fifty day moving average price is $242.42 and its two-hundred day moving average price is $247.08. The firm has a market capitalization of $42.43 billion, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company posted $3.70 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 over the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays decreased their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. UBS Group dropped their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Finally, BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $289.16.

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.