Aureus Asset Management LLC Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Aureus Asset Management LLC lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 4.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,251 shares of the company’s stock after selling 722 shares during the period. Aureus Asset Management LLC’s holdings in Constellation Brands were worth $3,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands in the second quarter worth approximately $119,394,000. Empowered Funds LLC boosted its stake 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Constellation Brands in the third quarter worth approximately $2,132,000. WealthPlan Investment Management LLC boosted its stake in Constellation Brands by 29.5% in the third quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after buying an additional 6,867 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Constellation Brands in the first quarter worth approximately $561,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ opened at $240.95 on Monday. The stock has a fifty day simple moving average of $241.72 and a two-hundred day simple moving average of $246.71. 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 company has a market cap of $43.75 billion, a price-to-earnings ratio of 77.98, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Transactions at Constellation Brands

In related 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 sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The shares were 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 $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on STZ. BMO Capital Markets lowered their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. BNP Paribas began coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Truist Financial lowered their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Finally, Evercore ISI lowered their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands 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.