Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Coastline Trust Co

Coastline Trust Co lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 50.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,350 shares of the company’s stock after selling 3,390 shares during the period. Coastline Trust Co’s holdings in Constellation Brands were worth $863,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the 2nd quarter valued at about $32,000. LRI Investments LLC purchased a new stake in Constellation Brands during the first quarter worth about $37,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the second quarter worth about $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $237.51 on Friday. The stock’s 50-day simple moving average is $244.13 and its 200-day simple moving average is $248.09. The firm has a market capitalization of $43.12 billion, a PE ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

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, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company earned $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Analyst Ratings Changes

A number of brokerages recently weighed in on STZ. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Barclays reduced their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. decreased their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Buying and Selling at Constellation Brands

In other news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The shares were 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 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 position. The disclosure for this sale can be found here. Insiders sold 189,296 shares of company stock worth $45,899,031 over the last 90 days. Corporate 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.