Hancock Whitney Corp Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Hancock Whitney Corp lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 51.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,244 shares of the company’s stock after selling 1,335 shares during the period. Hancock Whitney Corp’s holdings in Constellation Brands were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands in the second quarter worth approximately $119,394,000. Empowered Funds LLC raised its position in Constellation Brands by 318.8% in 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 during the period. Signature Estate & Investment Advisors LLC bought a new stake in Constellation Brands in the third quarter worth $2,132,000. WealthPlan Investment Management LLC lifted its stake in Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Constellation Brands during the first quarter valued at about $561,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STZ shares. Morgan Stanley lowered their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. BNP Paribas began coverage on Constellation Brands in a research report on Monday. They issued a “neutral” rating and a $261.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company lowered their price target on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Evercore ISI cut their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.16.

Insider Activity at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Up 1.0 %

NYSE:STZ opened at $235.97 on Thursday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a market capitalization of $42.84 billion, a PE ratio of 76.37, a P/E/G ratio of 1.71 and a beta of 0.90. The firm’s 50-day moving average price is $242.12 and its 200-day moving average price is $247.00. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share 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 the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.71%. Constellation Brands’s dividend payout ratio is currently 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.