Chemung Canal Trust Co. Has $493,000 Stake in Constellation Brands, Inc. (NYSE:STZ)

Chemung Canal Trust Co. reduced its holdings in Constellation Brands, Inc. (NYSE:STZFree Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,231 shares of the company’s stock after selling 73 shares during the period. Chemung Canal Trust Co.’s holdings in Constellation Brands were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Paloma Partners Management Co increased its position in shares of Constellation Brands by 568.4% in the third quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after acquiring an additional 25,512 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Constellation Brands by 3.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock worth $21,699,000 after purchasing an additional 2,980 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after purchasing an additional 7,752 shares in the last quarter. WealthPlan Investment Management LLC raised its stake in shares of Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Constellation Brands in the 3rd quarter valued at approximately $2,132,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STZ. JPMorgan Chase & Co. restated a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI reduced their price target on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Barclays dropped their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $259.05.

Get Our Latest Report on STZ

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $182.99 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87. The company’s 50 day moving average price is $222.11 and its two-hundred day moving average price is $236.92. The firm has a market cap of $33.07 billion, a PE ratio of 49.19, a PEG ratio of 1.58 and a beta of 0.91.

Constellation Brands (NYSE:STZGet Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $3.19 EPS. Equities research analysts predict that Constellation Brands, Inc. will post 13.52 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.21%. Constellation Brands’s dividend payout ratio is 108.60%.

Insiders Place Their Bets

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 69,172 shares of company stock worth $16,778,841 over the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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