CCM Investment Advisers LLC Sells 5,431 Shares of Constellation Brands, Inc. (NYSE:STZ)

CCM Investment Advisers LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.5% during the fourth quarter, HoldingsChannel reports. The firm owned 29,631 shares of the company’s stock after selling 5,431 shares during the quarter. CCM Investment Advisers LLC’s holdings in Constellation Brands were worth $6,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in Constellation Brands by 494.8% in the 2nd quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock valued at $973,000 after acquiring an additional 3,152 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Constellation Brands in the second quarter worth $36,000. Choreo LLC boosted its stake in Constellation Brands by 146.6% during the second quarter. Choreo LLC now owns 6,261 shares of the company’s stock valued at $1,606,000 after buying an additional 3,722 shares during the period. Royal London Asset Management Ltd. grew its position in Constellation Brands by 0.6% during the second quarter. Royal London Asset Management Ltd. now owns 64,530 shares of the company’s stock worth $16,602,000 after buying an additional 360 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Constellation Brands by 10.4% during the second quarter. Daiwa Securities Group Inc. now owns 17,824 shares of the company’s stock worth $4,586,000 after purchasing an additional 1,677 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of STZ traded down $33.09 on Friday, reaching $186.19. The company’s stock had a trading volume of 3,490,548 shares, compared to its average volume of 1,992,941. The stock’s 50 day simple moving average is $232.90 and its two-hundred day simple moving average is $242.14. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market capitalization of $33.81 billion, a P/E ratio of 60.26, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $186.13 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.19 EPS. Research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.17%. Constellation Brands’s payout ratio is 130.74%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, 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. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STZ. Wells Fargo & Company decreased their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI decreased their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research note on Friday, December 20th. TD Cowen dropped their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Bank of America reissued a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $284.75.

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.