Lake Street Private Wealth LLC Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Lake Street Private Wealth LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.6% during the third quarter, HoldingsChannel reports. The firm owned 1,848 shares of the company’s stock after selling 219 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Constellation Brands were worth $476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Orion Portfolio Solutions LLC boosted its position in 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. Capital Advisors Ltd. LLC boosted its position in shares of Constellation Brands by 16.5% during the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares in the last quarter. Oakworth Capital Inc. grew its stake in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC raised its holdings in Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in Constellation Brands by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction 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 transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,221 shares of company stock worth $33,007,175 in the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $241.42 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm has a market cap of $44.17 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The business has a 50-day simple moving average of $246.56 and a two-hundred day simple moving average of $250.95. Constellation Brands, Inc. has a fifty-two week low of $227.64 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating 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 firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company earned $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. Constellation Brands’s payout ratio is 30.10%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Evercore ISI reduced 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $290.47.

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.