Modus Advisors LLC Cuts Stake in Constellation Brands, Inc. (NYSE:STZ)

Modus Advisors LLC cut its stake in Constellation Brands, Inc. (NYSE:STZFree Report) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 918 shares of the company’s stock after selling 106 shares during the quarter. Modus Advisors LLC’s holdings in Constellation Brands were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STZ. Norges Bank purchased a new position in shares of Constellation Brands in the fourth quarter worth about $443,844,000. Darsana Capital Partners LP boosted its holdings in shares of Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the last quarter. Boston Partners acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $156,358,000. International Assets Investment Management LLC grew its position in shares of Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Constellation Brands by 38.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after purchasing an additional 388,390 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,031 shares of company stock valued at $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 0.4 %

Shares of NYSE STZ traded up $0.93 during mid-day trading on Tuesday, hitting $263.27. The company had a trading volume of 390,402 shares, compared to its average volume of 1,188,459. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The company has a market capitalization of $48.17 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The business’s 50-day simple moving average is $255.28 and its 200 day simple moving average is $252.23.

Constellation Brands (NYSE:STZGet Free Report) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company earned $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.53%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STZ shares. Barclays dropped their target price on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Roth Mkm reissued a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. BMO Capital Markets lifted their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. HSBC boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $298.20.

Read Our Latest Stock Analysis on STZ

About Constellation Brands

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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