Peapack Gladstone Financial Corp Sells 3,591 Shares of Constellation Brands, Inc. (NYSE:STZ)

Peapack Gladstone Financial Corp cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,189 shares of the company’s stock after selling 3,591 shares during the period. Peapack Gladstone Financial Corp’s holdings in Constellation Brands were worth $6,492,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of STZ. State Street Corp increased its stake in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after purchasing an additional 21,454 shares during the period. Legal & General Group Plc grew its holdings in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the period. Dimensional Fund Advisors LP increased its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on STZ. Barclays decreased their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price for the company. Finally, Needham & Company LLC assumed coverage on shares of Constellation Brands in a report on Friday, December 6th. They issued a “buy” rating and a $280.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 over the last three months. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

STZ opened at $239.71 on Friday. 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, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The firm has a market cap of $43.52 billion, a P/E ratio of 77.58, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The business’s fifty day moving average is $238.99 and its 200-day moving average is $246.02.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data 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. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

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.