Raymond James & Associates Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

Raymond James & Associates cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,373 shares of the company’s stock after selling 6,379 shares during the period. Raymond James & Associates’ holdings in Constellation Brands were worth $18,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. HNP Capital LLC purchased a new position in shares of Constellation Brands in the second quarter worth about $215,000. The Manufacturers Life Insurance Company grew its position in Constellation Brands by 3.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 615,162 shares of the company’s stock worth $88,189,000 after acquiring an additional 22,431 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in Constellation Brands by 14.9% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 3,494 shares of the company’s stock worth $611,000 after purchasing an additional 453 shares during the period. Cox Capital Mgt LLC lifted its position in Constellation Brands by 1.8% in the second quarter. Cox Capital Mgt LLC now owns 8,483 shares of the company’s stock valued at $1,484,000 after purchasing an additional 147 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Constellation Brands by 30.2% during the first quarter. HighTower Advisors LLC now owns 36,756 shares of the company’s stock valued at $5,264,000 after purchasing an additional 8,524 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

A number of research firms recently commented on STZ. UBS Group upped their price target on shares of Constellation Brands from $192.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. MKM Partners boosted their price objective on shares of Constellation Brands from $147.00 to $151.00 in a research report on Monday, July 6th. Credit Suisse Group increased their target price on shares of Constellation Brands from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research note on Monday, June 15th. Finally, Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a research report on Thursday, July 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $197.32.

In related news, Chairman Robert Sands sold 90,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $181.20, for a total value of $16,341,340.80. Following the transaction, the chairman now directly owns 644,719 shares of the company’s stock, valued at approximately $116,823,082.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Richard Sands sold 638,407 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $180.12, for a total value of $114,989,868.84. Following the sale, the insider now owns 249,763 shares in the company, valued at $44,987,311.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,364 shares of company stock worth $189,856,440 over the last three months. 15.77% of the stock is currently owned by insiders.

STZ stock opened at $178.20 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. The firm has a market capitalization of $34.87 billion, a price-to-earnings ratio of 990.06, a PEG ratio of 1.99 and a beta of 0.92. The firm has a 50 day moving average price of $179.48 and a 200-day moving average price of $172.76. Constellation Brands, Inc. has a 52-week low of $104.28 and a 52-week high of $212.00.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $2.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.29. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 8.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Monday, August 10th. Constellation Brands’s payout ratio is 32.89%.

Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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