Chartwell Investment Partners LLC Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

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Chartwell Investment Partners LLC decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 26.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,500 shares of the company’s stock after selling 6,500 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Constellation Brands were worth $3,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Heritage Wealth Advisors lifted its stake in Constellation Brands by 193.3% in the second quarter. Heritage Wealth Advisors now owns 440 shares of the company’s stock worth $26,000 after acquiring an additional 290 shares during the period. Ellevest Inc. lifted its stake in Constellation Brands by 84.1% in the second quarter. Ellevest Inc. now owns 162 shares of the company’s stock worth $28,000 after acquiring an additional 74 shares during the period. NuWave Investment Management LLC purchased a new stake in Constellation Brands in the second quarter worth $28,000. Citizens Financial Group Inc RI raised its holdings in Constellation Brands by 121.1% in the first quarter. Citizens Financial Group Inc RI now owns 210 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Finally, Verus Capital Partners LLC purchased a new position in Constellation Brands during the fourth quarter valued at $43,000. 71.78% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the stock. Argus raised shares of 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. Deutsche Bank boosted their price objective on shares of Constellation Brands from $176.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. HSBC boosted their price objective on shares of Constellation Brands from $147.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. MKM Partners boosted their price objective on shares of Constellation Brands from $147.00 to $151.00 in a research note on Monday, July 6th. Finally, SunTrust Banks reissued a “buy” rating and set a $200.00 price objective on shares of Constellation Brands in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Constellation Brands has an average rating of “Buy” and an average target price of $197.32.

In other news, Chairman Robert Sands sold 172,369 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $180.40, for a total value of $31,095,367.60. Following the completion of the sale, the chairman now directly owns 616,148 shares of the company’s stock, valued at $111,153,099.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard Sands sold 638,407 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $180.12, for a total transaction of $114,989,868.84. Following the completion of the sale, the insider now directly owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The disclosure for this sale can be found here. Insiders sold 1,052,364 shares of company stock worth $189,856,440 over the last quarter. Insiders own 15.77% of the company’s stock.

STZ opened at $178.20 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.18 and a debt-to-equity ratio of 1.02. Constellation Brands, Inc. has a 1-year low of $104.28 and a 1-year high of $212.00. The company has a market capitalization of $34.36 billion, a PE ratio of 19.33, a PEG ratio of 1.96 and a beta of 0.92. The firm’s 50 day simple moving average is $179.48 and its two-hundred day simple moving average is $172.76.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 1st. The company reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.29. Constellation Brands had a net margin of 0.62% and a return on equity of 15.10%. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts forecast that Constellation Brands, Inc. will post 8.88 earnings per share for the current fiscal year.

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

Constellation Brands Company 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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