BNP Paribas Has $878,000 Stock Position in Constellation Brands, Inc. (NYSE:STZ)

BNP Paribas decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,408 shares of the company’s stock after selling 84 shares during the quarter. BNP Paribas’ holdings in Constellation Brands were worth $878,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STZ. Oakworth Capital Inc. grew its stake in Constellation Brands by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after buying an additional 42 shares during the last quarter. PFG Investments LLC grew its stake in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after buying an additional 42 shares during the last quarter. Brighton Jones LLC grew its stake in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares during the last quarter. Burns Matteson Capital Management LLC grew its stake in Constellation Brands by 1.5% in the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock valued at $749,000 after buying an additional 44 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $235.97 on Thursday. The company has a 50-day moving average of $242.12 and a 200-day moving average of $247.00. The company has a market capitalization of $42.84 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 1.71 and a beta of 0.90. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the firm posted $3.70 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STZ shares. BNP Paribas started coverage on shares of Constellation Brands in a research note on Monday. They issued a “neutral” rating and a $261.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America restated a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Barclays decreased their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $289.16.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last ninety days. Insiders own 12.19% of the company’s stock.

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.