Westfield Capital Management Co. LP Has $82.57 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Westfield Capital Management Co. LP reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 27.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,440 shares of the company’s stock after selling 120,591 shares during the period. Westfield Capital Management Co. LP’s holdings in Constellation Brands were worth $82,574,000 at the end of the most recent quarter.

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

Constellation Brands Trading Down 0.5 %

NYSE STZ opened at $239.66 on Friday. 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 $224.76 and a 12 month high of $274.87. The company has a market capitalization of $43.51 billion, a PE ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90. The stock has a 50-day simple moving average of $243.04 and a 200 day simple moving average of $247.49.

Constellation Brands (NYSE:STZ) last announced its quarterly 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 for 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%. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company posted $3.70 EPS. Research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

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

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was 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 in the company, valued at approximately $3,898,045.58. This represents a 69.23 % 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 quarter. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Barclays reduced their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday, November 19th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $290.47.

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.