Constellation Brands, Inc. (NYSE:STZ) Stake Trimmed by Darsana Capital Partners LP

Darsana Capital Partners LP cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,270,800 shares of the company’s stock after selling 29,200 shares during the period. Constellation Brands comprises 8.1% of Darsana Capital Partners LP’s holdings, making the stock its 8th largest position. Darsana Capital Partners LP’s holdings in Constellation Brands were worth $327,472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in STZ. International Assets Investment Management LLC raised its holdings in shares of Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter worth approximately $119,394,000. Dimensional Fund Advisors LP raised its stake in Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares during the period. Coho Partners Ltd. lifted its holdings in shares of Constellation Brands by 40.1% in the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock valued at $72,947,000 after purchasing an additional 80,970 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in shares of Constellation Brands in the second quarter valued at $19,134,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $240.85 on Friday. The business has a 50-day moving average of $241.72 and a two-hundred day moving average of $246.80. 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 current ratio of 1.25 and a quick ratio of 0.53. The stock has a market capitalization of $43.73 billion, a P/E ratio of 77.94, a P/E/G ratio of 1.67 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, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.70 earnings per share. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STZ. Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. BMO Capital Markets decreased their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands 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.