Jaffetilchin Investment Partners LLC Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Jaffetilchin Investment Partners LLC cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,629 shares of the company’s stock after selling 59 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Constellation Brands were worth $443,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Norges Bank acquired a new position in shares of Constellation Brands in the 4th quarter valued at $443,844,000. Capital World Investors raised its stake in Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the last quarter. Boston Partners acquired a new stake in Constellation Brands during the 4th quarter worth about $156,358,000. Finally, International Assets Investment Management LLC grew its stake in Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The disclosure for this sale can be found here. Insiders sold 31,068 shares of company stock valued at $8,088,556 over the last 90 days. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Price Performance

Shares of STZ traded up $0.21 during mid-day trading on Thursday, hitting $245.37. 746,432 shares of the company were exchanged, compared to its average volume of 1,203,942. The stock has a market cap of $44.71 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a 50 day moving average of $252.54 and a 200-day moving average of $254.84. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.91 earnings per share. Analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Analyst Ratings Changes

A number of research firms recently commented on STZ. Roth Mkm decreased their target price on Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a report on Friday, July 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Evercore ISI upped their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Barclays lifted their price objective on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.28.

About Constellation Brands

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.