Intellectus Partners LLC Sells 125 Shares of Constellation Brands, Inc. (NYSE:STZ)

Intellectus Partners LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.7% in the third quarter, HoldingsChannel reports. The fund owned 1,729 shares of the company’s stock after selling 125 shares during the period. Intellectus Partners LLC’s holdings in Constellation Brands were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its position in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares in the last quarter. Nwam LLC bought a new stake in Constellation Brands during the 1st quarter valued at approximately $201,000. First Foundation Advisors raised its stake in Constellation Brands by 51.9% during the 1st quarter. First Foundation Advisors now owns 943 shares of the company’s stock valued at $256,000 after purchasing an additional 322 shares during the period. Clearstead Trust LLC lifted its holdings in Constellation Brands by 873.7% in the 1st quarter. Clearstead Trust LLC now owns 185 shares of the company’s stock worth $50,000 after purchasing an additional 166 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,296 shares of company stock worth $45,899,031 over the last quarter. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Down 1.9 %

NYSE:STZ opened at $237.51 on Friday. 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 company’s fifty day moving average price is $244.36 and its 200-day moving average price is $248.25. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The firm has a market capitalization of $43.12 billion, a P/E ratio of 76.86, a PEG ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.70 earnings per share. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands’s payout ratio is currently 130.74%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STZ shares. Barclays reduced their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Company 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.