Vinva Investment Management Ltd Cuts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Vinva Investment Management Ltd reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 43.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,725 shares of the company’s stock after selling 2,905 shares during the quarter. Vinva Investment Management Ltd’s holdings in Constellation Brands were worth $963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc boosted its holdings in Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after acquiring an additional 72,637 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after acquiring an additional 241,982 shares during the period. International Assets Investment Management LLC boosted its holdings 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 valued at $128,765,000 after acquiring an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at about $119,394,000. Finally, Raymond James & Associates boosted its holdings in Constellation Brands by 14.4% during the 2nd 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 during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by insiders.

Constellation Brands Trading Up 2.1 %

STZ opened at $240.85 on Friday. The business has a 50 day moving average of $241.72 and a 200-day moving average of $246.80. The stock has a market cap of $43.73 billion, a PE ratio of 77.94, a PEG ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.70 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on STZ shares. Evercore ISI dropped their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Finally, TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to 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.