Davis R M Inc. Sells 4,389 Shares of Constellation Brands, Inc. (NYSE:STZ)

Davis R M Inc. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,763 shares of the company’s stock after selling 4,389 shares during the quarter. Davis R M Inc.’s holdings in Constellation Brands were worth $19,781,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the second quarter worth $119,394,000. Empowered Funds LLC grew its position in shares of Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after purchasing an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Constellation Brands during the third quarter worth approximately $2,132,000. Swedbank AB acquired a new stake in shares of Constellation Brands in the first quarter valued at approximately $561,000. Finally, WealthPlan Investment Management LLC grew its position in Constellation Brands by 29.5% during the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after buying an additional 6,867 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Roth Mkm reiterated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Performance

NYSE STZ opened at $239.66 on Monday. The company has a market capitalization of $43.51 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.69 and a beta of 0.90. 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, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The stock has a fifty day simple moving average of $243.04 and a 200 day simple moving average of $247.41.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s payout ratio is 130.74%.

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.