Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.2% in the second quarter, Holdings Channel reports. The fund owned 17,547 shares of the company’s stock after selling 583 shares during the period. Parallel Advisors LLC’s holdings in Constellation Brands were worth $4,515,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp raised its holdings in Constellation Brands by 3.2% in the 4th quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after acquiring an additional 5,951 shares during the last quarter. KBC Group NV raised its holdings in Constellation Brands by 100.4% in the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock valued at $60,666,000 after acquiring an additional 125,730 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $119,394,000. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Finally, Howland Capital Management LLC increased its holdings in shares of Constellation Brands by 3.0% during the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after buying an additional 4,051 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. Roth Mkm cut their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Morgan Stanley cut their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. UBS Group cut their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $296.78.

Insider Buying and Selling at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock valued at $3,982,922 in the last 90 days. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock opened at $252.57 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The stock has a market capitalization of $46.02 billion, a PE ratio of 18.82, a P/E/G ratio of 1.69 and a beta of 0.88. The firm has a 50 day moving average of $245.91 and a two-hundred day moving average of $253.86.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the company posted $2.91 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.60%. Constellation Brands’s dividend payout ratio is presently 30.10%.

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.