Crossmark Global Holdings Inc. Sells 339 Shares of Constellation Brands, Inc. (NYSE:STZ)

Crossmark Global Holdings Inc. lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,920 shares of the company’s stock after selling 339 shares during the period. Crossmark Global Holdings Inc.’s holdings in Constellation Brands were worth $1,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital International Investors increased its holdings in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Norges Bank acquired a new stake in shares of Constellation Brands in the 4th quarter valued at $443,844,000. Capital World Investors increased its stake in shares of Constellation Brands by 8.7% in 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. Boston Partners bought a new stake in shares of Constellation Brands during the 4th quarter worth $156,358,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Constellation Brands in the second quarter valued at about $119,394,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented 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 upped their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. BMO Capital Markets restated an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. JPMorgan Chase & Co. boosted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Finally, Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.21.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 1.2 %

NYSE:STZ opened at $240.71 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $248.19 and a two-hundred day simple moving average of $253.62. The stock has a market capitalization of $44.04 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.62 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $2.91 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

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.