Patton Albertson Miller Group LLC Sells 7,912 Shares of Constellation Brands Inc (NYSE:STZ)

Patton Albertson Miller Group LLC trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,048 shares of the company’s stock after selling 7,912 shares during the period. Patton Albertson Miller Group LLC’s holdings in Constellation Brands were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of STZ. Berkshire Hathaway Inc purchased a new stake in shares of Constellation Brands in the fourth quarter worth $1,242,976,000. Norges Bank purchased a new stake in Constellation Brands during the fourth quarter valued at about $445,883,000. Vanguard Group Inc. raised its position in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. raised its position in Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after purchasing an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in Constellation Brands by 42.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock valued at $542,391,000 after purchasing an additional 736,780 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $171.73 on Friday. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The firm has a market cap of $30.27 billion, a P/E ratio of -71.85, a PEG ratio of 10.18 and a beta of 0.67. The company has a 50 day moving average of $173.86 and a 200 day moving average of $180.18. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.57 EPS. As a group, research analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, July 30th. Constellation Brands’s payout ratio is currently -170.71%.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company’s stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research reports. Roth Mkm lowered their price target on Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Needham & Company LLC raised their price target on Constellation Brands from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. BMO Capital Markets reduced their price objective on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Royal Bank Of Canada reduced their price objective on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, CJS Securities reduced their price objective on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.74.

Constellation Brands 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.