Camden National Bank Has $8.02 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Camden National Bank decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.3% during the third quarter, Holdings Channel.com reports. The firm owned 31,112 shares of the company’s stock after selling 102 shares during the period. Camden National Bank’s holdings in Constellation Brands were worth $8,017,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the second quarter worth approximately $119,394,000. Signature Estate & Investment Advisors LLC acquired a new position in Constellation Brands in the third quarter worth approximately $2,132,000. Empowered Funds LLC increased its holdings in Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock worth $2,624,000 after buying an additional 7,752 shares during the last quarter. Swedbank AB acquired a new position in Constellation Brands in the first quarter worth approximately $561,000. Finally, Cetera Advisors LLC increased its holdings in Constellation Brands by 182.1% in the first quarter. Cetera Advisors LLC now owns 14,236 shares of the company’s stock worth $3,869,000 after buying an additional 9,190 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 over the last three months. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Evercore ISI lowered their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Roth Mkm reiterated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, Bank of America reiterated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Stock Down 0.5 %

STZ opened at $239.66 on Friday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $43.51 billion, a price-to-earnings ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90. The business has a 50 day moving average of $243.04 and a 200-day moving average of $247.56.

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

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend payout ratio is currently 130.74%.

About Constellation Brands

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.