Sigma Planning Corp Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sigma Planning Corp reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,915 shares of the company’s stock after selling 244 shares during the quarter. Sigma Planning Corp’s holdings in Constellation Brands were worth $1,524,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its position in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors grew its holdings in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. International Assets Investment Management LLC raised its position in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. Manning & Napier Advisors LLC bought a new stake in Constellation Brands in the second quarter worth $119,394,000. Finally, Vanguard Group Inc. boosted its position in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Up 0.9 %

Shares of Constellation Brands stock opened at $238.29 on Wednesday. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year 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 $244.78 and a 200 day moving average of $248.51. The firm has a market cap of $43.26 billion, a price-to-earnings ratio of 76.49, a PEG ratio of 1.65 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during 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 business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.70 earnings per share. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. 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 dividend payout ratio is currently 130.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STZ shares. Morgan Stanley lowered their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The stock was 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 directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock worth $31,040,994 over the last three months. 12.19% of the stock is currently owned by corporate insiders.

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.