Mercer Global Advisors Inc. ADV Lowers Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Mercer Global Advisors Inc. ADV trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,955 shares of the company’s stock after selling 705 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Constellation Brands were worth $5,649,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter worth about $32,000. YHB Investment Advisors Inc. bought a new position in shares of Constellation Brands in the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $35,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $248.09 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. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a market capitalization of $45.39 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75. The firm’s 50-day moving average is $245.42 and its 200 day moving average is $253.90.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm posted $2.91 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Research analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent analyst reports. Barclays upped their price target on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Roth Mkm cut their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reduced their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Insider Transactions at Constellation Brands

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

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.