W.G. Shaheen & Associates DBA Whitney & Co Has $19.38 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

W.G. Shaheen & Associates DBA Whitney & Co lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,219 shares of the company’s stock after acquiring an additional 373 shares during the quarter. Constellation Brands makes up approximately 2.1% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 12th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Constellation Brands were worth $19,383,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of STZ. Orion Portfolio Solutions LLC boosted its holdings in shares of Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares in the last quarter. Bahl & Gaynor Inc. raised its position in Constellation Brands by 9.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 5,359 shares of the company’s stock worth $1,456,000 after purchasing an additional 459 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Constellation Brands by 21.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,009 shares of the company’s stock worth $1,905,000 after purchasing an additional 1,239 shares during the last quarter. UniSuper Management Pty Ltd raised its position in Constellation Brands by 285.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,722 shares of the company’s stock worth $1,555,000 after purchasing an additional 4,239 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Constellation Brands by 5.8% during the 1st quarter. Bessemer Group Inc. now owns 3,551 shares of the company’s stock worth $965,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s 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 transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on STZ. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. 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. Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Price Performance

STZ stock opened at $238.06 on Tuesday. The company has a market capitalization of $43.22 billion, a P/E ratio of 77.04, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The business has a 50-day simple moving average of $243.88 and a two-hundred day simple moving average of $247.90.

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

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

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.