Canandaigua National Bank & Trust Co. Has $8.70 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Canandaigua National Bank & Trust Co. decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,371 shares of the company’s stock after selling 1,080 shares during the period. Constellation Brands makes up about 0.9% of Canandaigua National Bank & Trust Co.’s investment portfolio, making the stock its 24th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Constellation Brands were worth $8,701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in STZ. Versant Capital Management Inc raised its position in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the second quarter worth $36,000. Wellington Shields & Co. LLC grew its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Eastern Bank acquired a new stake in Constellation Brands in the 3rd quarter valued at $39,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Constellation Brands during the 3rd quarter worth about $42,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STZ has been the topic of a number of recent research reports. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price on the stock. Evercore ISI dropped their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Bank of America reissued a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. BMO Capital Markets dropped their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $280.00 price target on shares of Constellation Brands in a report on Friday, December 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $288.70.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $1.26 on Monday, reaching $223.18. 1,893,305 shares of the company traded hands, compared to its average volume of 1,455,801. Constellation Brands, Inc. has a 52 week low of $217.52 and a 52 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 company has a 50 day moving average of $234.13 and a 200 day moving average of $243.06. The firm has a market capitalization of $40.52 billion, a PE ratio of 72.23, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction 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 transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The stock was 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 directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. Insiders own 12.19% of the company’s stock.

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.