Harbour Investments Inc. Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Harbour Investments Inc. trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,794 shares of the company’s stock after selling 55 shares during the period. Harbour Investments Inc.’s holdings in Constellation Brands were worth $462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Capital International Investors increased its position in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors grew its stake in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $119,394,000. Finally, Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after buying an additional 462,891 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $237.51 on Friday. 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 firm’s 50 day moving average is $244.13 and its two-hundred day moving average is $248.09. The firm has a market capitalization of $43.12 billion, a P/E ratio of 76.86, a PEG ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $3.70 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. 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 report on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Finally, Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 189,296 shares of company stock valued at $45,899,031 in the last quarter. Insiders own 12.19% of the company’s stock.

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.