Charles Schwab Investment Management Inc. Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Charles Schwab Investment Management Inc. cut its position in Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 1,744,178 shares of the company’s stock after selling 11,516 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Constellation Brands were worth $449,458,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in STZ. New Millennium Group LLC acquired a new stake in Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands during the second quarter worth $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the second quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new position in Constellation Brands in the second quarter valued at about $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands during the second quarter worth about $36,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Constellation Brands stock opened at $240.84 on Friday. The firm has a 50 day moving average price of $243.30 and a 200 day moving average price of $247.68. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market cap of $43.73 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the firm posted $3.70 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share 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 issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,296 shares of company stock worth $45,899,031. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on STZ shares. UBS Group dropped their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. BMO Capital Markets dropped their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday. Finally, Bank of America restated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.