Bangor Savings Bank Trims Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Bangor Savings Bank decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,509 shares of the company’s stock after selling 359 shares during the quarter. Bangor Savings Bank’s holdings in Constellation Brands were worth $1,881,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Paloma Partners Management Co boosted its stake in shares of Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after acquiring an additional 25,512 shares during the last quarter. Empowered Funds LLC raised its holdings 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. Nomura Asset Management Co. Ltd. lifted its position in Constellation Brands by 3.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after purchasing an additional 2,980 shares in the last quarter. WealthPlan Investment Management LLC grew its holdings in Constellation Brands by 29.5% during the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after purchasing an additional 6,867 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Constellation Brands in the third quarter worth about $2,132,000. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. 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 Stock Up 0.6 %

Shares of NYSE:STZ opened at $223.18 on Tuesday. The company has a 50-day moving average price of $233.85 and a 200 day moving average price of $242.78. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12 month low of $217.52 and a 12 month high of $274.87. The company has a market cap of $40.52 billion, a price-to-earnings ratio of 72.23, a PEG ratio of 1.69 and a beta of 1.75.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STZ. Needham & Company LLC reissued a “buy” rating and issued a $280.00 target price on shares of Constellation Brands in a report on Friday, December 20th. Roth Mkm restated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. BMO Capital Markets cut their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group lowered their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Constellation Brands Company 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.