Ballentine Partners LLC Has $661,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Ballentine Partners LLC reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,564 shares of the company’s stock after selling 396 shares during the period. Ballentine Partners LLC’s holdings in Constellation Brands were worth $661,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. New Millennium Group LLC acquired a new position in Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands in the second quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in Constellation Brands in the second quarter worth $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands in the second quarter worth $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price 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. Jefferies Financial Group increased their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Morgan Stanley lowered their price objective on shares of 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 set a $298.00 price objective on shares of Constellation Brands in a research report 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,367 shares of company stock worth $32,539,170 in the last quarter. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Down 0.6 %

Constellation Brands stock opened at $239.38 on Friday. The company has a market cap of $43.80 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $227.64 and a 1-year high of $274.87. The company has a fifty day simple moving average of $246.34 and a 200 day simple moving average of $250.69. 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 (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share 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 business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company earned $3.70 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

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.