Constellation Brands Inc (NYSE:STZ) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 77.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,682 shares of the company's stock after selling 19,389 shares during the quarter. Assetmark Inc.'s holdings in Constellation Brands were worth $1,043,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of STZ. Harbor Capital Advisors Inc. increased its holdings in shares of Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after acquiring an additional 815 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Constellation Brands by 137.0% in the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after purchasing an additional 1,274 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Constellation Brands by 28.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after purchasing an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Constellation Brands by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Constellation Brands by 3.0% during the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after buying an additional 65 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $167.07 on Friday. The firm has a market capitalization of $29.45 billion, a price-to-earnings ratio of -69.90, a price-to-earnings-growth ratio of 10.38 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The business's 50 day simple moving average is $170.55 and its 200-day simple moving average is $177.38. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.57 earnings per share. As a group, equities analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of recent analyst reports. DA Davidson dropped their target price on shares of Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. Royal Bank Of Canada reduced their target price on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Bernstein Bank decreased their target price on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price target on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Finally, Needham & Company LLC boosted their price objective on Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insiders Place Their Bets

In other news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is owned by company insiders.

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.

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