Confluence Investment Management LLC Cuts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Confluence Investment Management LLC cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,582 shares of the company’s stock after selling 13,788 shares during the period. Confluence Investment Management LLC’s holdings in Constellation Brands were worth $27,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Paloma Partners Management Co boosted its stake in shares of Constellation Brands by 568.4% in the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after buying an additional 25,512 shares during the period. Empowered Funds LLC raised its holdings in Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after acquiring an additional 7,752 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Constellation Brands by 3.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after acquiring an additional 2,980 shares during the last quarter. WealthPlan Investment Management LLC grew its holdings in Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Constellation Brands in the 3rd quarter valued at approximately $2,132,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

STZ traded up $1.14 on Thursday, hitting $222.14. 250,966 shares of the company traded hands, compared to its average volume of 1,237,062. Constellation Brands, Inc. has a 12-month low of $219.54 and a 12-month high of $274.87. The company has a 50 day moving average of $234.84 and a 200-day moving average of $243.77. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $40.33 billion, a PE ratio of 71.89, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 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 business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of Constellation Brands 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 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 50.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Evercore ISI decreased their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lowered 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. Finally, Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $288.70.

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.