Constellation Brands Inc (NYSE:STZ) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 69.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,682 shares of the company's stock after selling 3,830 shares during the period. Exchange Traded Concepts LLC's holdings in Constellation Brands were worth $309,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of STZ. Berkshire Hathaway Inc bought a new position in shares of Constellation Brands during the fourth quarter worth about $1,242,976,000. Norges Bank bought a new position in shares of Constellation Brands during the fourth quarter worth about $445,883,000. Vanguard Group Inc. grew its position in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares during the last quarter. D1 Capital Partners L.P. grew its position in Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock valued at $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in Constellation Brands by 42.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after buying an additional 736,780 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ opened at $162.30 on Friday. The business's fifty day simple moving average is $181.16 and its two-hundred day simple moving average is $188.32. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $265.70. The company has a market cap of $28.89 billion, a price-to-earnings ratio of -318.23, a P/E/G ratio of 8.80 and a beta of 0.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business posted $2.26 EPS. The company's revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a $1.02 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Bank of America reduced their price objective on shares of Constellation Brands from $195.00 to $180.00 and set a "neutral" rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price target on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group dropped their target price on Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus price target of $215.87.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.45% 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.

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