Allred Capital Management LLC trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,112 shares of the company’s stock after selling 604 shares during the quarter. Allred Capital Management LLC’s holdings in Constellation Brands were worth $651,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its position in shares of Constellation Brands by 18.7% in the first quarter. CIBC Private Wealth Group LLC now owns 4,032 shares of the company’s stock worth $707,000 after buying an additional 634 shares during the period. Sawtooth Solutions LLC purchased a new stake in shares of Constellation Brands in the first quarter worth about $346,000. MML Investors Services LLC boosted its position in shares of Constellation Brands by 15.9% in the first quarter. MML Investors Services LLC now owns 11,065 shares of the company’s stock worth $1,940,000 after buying an additional 1,521 shares during the period. GAM Holding AG purchased a new stake in shares of Constellation Brands in the first quarter worth about $377,000. Finally, Private Advisor Group LLC boosted its position in shares of Constellation Brands by 16.7% in the first quarter. Private Advisor Group LLC now owns 17,791 shares of the company’s stock worth $3,121,000 after buying an additional 2,547 shares during the period. 72.10% of the stock is owned by institutional investors.
NYSE STZ traded down $3.51 on Monday, hitting $190.23. 57,377 shares of the stock traded hands, compared to its average volume of 1,217,595. The stock has a 50-day moving average of $203.61 and a 200 day moving average of $196.04. Constellation Brands, Inc. has a twelve month low of $150.37 and a twelve month high of $228.91. The company has a market capitalization of $37.21 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 2.65 and a beta of 0.69. The company has a current ratio of 1.61, a quick ratio of 0.71 and a debt-to-equity ratio of 1.04.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s payout ratio is 32.33%.
Several equities research analysts have recently weighed in on the company. Bank of America set a $221.00 target price on Constellation Brands and gave the stock a “buy” rating in a research report on Monday, July 1st. Evercore ISI set a $220.00 target price on Constellation Brands and gave the stock a “buy” rating in a research report on Friday, August 9th. UBS Group upped their target price on Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Barclays reaffirmed a “buy” rating and issued a $238.00 target price on shares of Constellation Brands in a research report on Tuesday, July 2nd. Finally, Citigroup set a $210.00 price target on Constellation Brands and gave the stock a “hold” rating in a research note on Monday, July 1st. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $222.81.
In other news, Director Jeremy S. G. Fowden sold 10,213 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the sale, the director now directly owns 27,630 shares in the company, valued at approximately $5,452,780.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by corporate insiders.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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