Bradley Foster & Sargent Inc. CT Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

Bradley Foster & Sargent Inc. CT cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,933 shares of the company’s stock after selling 1,621 shares during the quarter. Constellation Brands makes up approximately 1.2% of Bradley Foster & Sargent Inc. CT’s portfolio, making the stock its 23rd largest holding. Bradley Foster & Sargent Inc. CT owned approximately 0.15% of Constellation Brands worth $68,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Constellation Brands in the 2nd quarter valued at about $1,636,000. Stock Yards Bank & Trust Co. lifted its stake in Constellation Brands by 1.5% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 101,920 shares of the company’s stock valued at $26,222,000 after buying an additional 1,553 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Constellation Brands by 0.5% in the 2nd quarter. Moors & Cabot Inc. now owns 32,006 shares of the company’s stock worth $8,235,000 after purchasing an additional 144 shares in the last quarter. WealthPLAN Partners LLC lifted its stake in Constellation Brands by 8.0% in the 2nd quarter. WealthPLAN Partners LLC now owns 17,155 shares of the company’s stock worth $4,414,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. lifted its stake in Constellation Brands by 43.3% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 29,865 shares of the company’s stock worth $7,684,000 after purchasing an additional 9,023 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

NYSE:STZ opened at $252.85 on Wednesday. The company has a fifty day simple moving average of $245.92 and a two-hundred day simple moving average of $253.96. The company has a market cap of $46.27 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.91 earnings per share. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.60%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Roth Mkm decreased their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.78.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

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.