Townsquare Capital LLC Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Townsquare Capital LLC decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 40.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,042 shares of the company’s stock after selling 4,070 shares during the quarter. Townsquare Capital LLC’s holdings in Constellation Brands were worth $1,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STZ. Legal & General Group Plc grew its position in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the last quarter. International Assets Investment Management LLC increased its stake in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Constellation Brands during the second quarter valued at approximately $119,394,000. Finally, Raymond James & Associates lifted its position in shares of Constellation Brands by 14.4% in the second quarter. Raymond James & Associates now owns 443,084 shares of the company’s stock valued at $113,997,000 after acquiring an additional 55,932 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 2.1 %

Shares of STZ opened at $240.95 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a market cap of $43.75 billion, a P/E ratio of 77.98, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company’s 50-day moving average price is $241.72 and its 200 day moving average price is $246.71. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 in the last three months. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. BNP Paribas assumed coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Roth Mkm reissued a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.16.

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.