Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Xponance Inc.

Xponance Inc. lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 21,857 shares of the company’s stock after selling 1,691 shares during the period. Xponance Inc.’s holdings in Constellation Brands were worth $5,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its holdings in Constellation Brands by 78.3% during the second quarter. Public Sector Pension Investment Board now owns 5,704 shares of the company’s stock worth $1,468,000 after purchasing an additional 2,504 shares in the last quarter. Nippon Life Global Investors Americas Inc. grew its position in Constellation Brands by 42.7% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 109,790 shares of the company’s stock valued at $28,247,000 after buying an additional 32,840 shares during the last quarter. HighVista Strategies LLC grew its position in Constellation Brands by 4.5% in the 2nd quarter. HighVista Strategies LLC now owns 4,600 shares of the company’s stock valued at $1,183,000 after buying an additional 200 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Constellation Brands by 11.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,950 shares of the company’s stock valued at $478,000 after buying an additional 200 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Constellation Brands by 2.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 319,198 shares of the company’s stock valued at $82,123,000 after buying an additional 7,590 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.9 %

Shares of STZ stock opened at $252.47 on Wednesday. The firm has a 50-day moving average price of $245.62 and a 200 day moving average price of $253.94. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.69 and a beta of 1.75. 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 (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. 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 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed 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 1.60%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, 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. Insiders sold a total of 16,414 shares of company stock valued at $3,982,922 in the last 90 days. 12.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets restated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Roth Mkm cut their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Morgan Stanley cut their price target 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. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $297.12.

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.