Mediolanum International Funds Ltd Has $4.33 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Mediolanum International Funds Ltd lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 43.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,782 shares of the company’s stock after selling 12,908 shares during the period. Mediolanum International Funds Ltd’s holdings in Constellation Brands were worth $4,329,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC acquired a new position in Constellation Brands during the 2nd quarter worth $119,394,000. Vanguard Group Inc. boosted its holdings in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Howland Capital Management LLC grew its stake in shares of Constellation Brands by 3.0% in the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after purchasing an additional 4,051 shares during the period. Capital International Sarl raised its holdings in shares of Constellation Brands by 35.9% in the 1st quarter. Capital International Sarl now owns 10,462 shares of the company’s stock worth $2,843,000 after buying an additional 2,764 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Constellation Brands by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock worth $136,711,000 after buying an additional 5,302 shares during the period. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of STZ stock opened at $239.38 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market cap of $43.80 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $227.64 and a twelve month high of $274.87. The business has a fifty day simple moving average of $246.34 and a 200 day simple moving average of $250.69.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. 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 prior year, the firm earned $3.70 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on STZ. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. UBS Group reduced their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated 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 directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. This trade represents 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 valued at $32,539,170 in the last three months. Corporate insiders own 12.19% of the company’s stock.

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.