Delta Global Management LP Sells 10,247 Shares of Constellation Brands Inc $STZ

Key Points

• Delta Global Management LP cut its Constellation Brands position by 58.6% in the fourth quarter, selling 10,247 shares and leaving it with 7,248 shares worth about $1 million.
• Insiders also reduced exposure: EVP James O. Bourdeau sold 4,407 shares in May for about $631,259, a 32.61% decrease in his stake.
• Constellation Brands reported quarterly EPS of $1.90, beating estimates, and raised its dividend to $1.03 per share; analysts currently rate the stock Moderate Buy with a consensus target of $175.26.

Delta Global Management LP decreased its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 58.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,248 shares of the company's stock after selling 10,247 shares during the period. Delta Global Management LP's holdings in Constellation Brands were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after acquiring an additional 187 shares in the last quarter. Woodline Partners LP bought a new stake in Constellation Brands in the first quarter valued at $2,409,000. Cary Street Partners Financial LLC boosted its holdings in Constellation Brands by 69.9% in the second quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company's stock valued at $167,000 after acquiring an additional 422 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company's stock valued at $2,822,000 after acquiring an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company's stock valued at $3,861,000 after acquiring an additional 1,127 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.20% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on STZ. Royal Bank Of Canada reiterated an "outperform" rating and issued a $185.00 price target on shares of Constellation Brands in a report on Friday, April 10th. Bank of America cut their price target on shares of Constellation Brands from $154.00 to $152.00 and set an "underperform" rating on the stock in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Constellation Brands from $154.00 to $155.00 and gave the company a "hold" rating in a report on Friday, April 10th. Wells Fargo & Company lifted their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Constellation Brands from $155.00 to $163.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $175.26.

Constellation Brands Stock Performance

Shares of STZ stock opened at $144.26 on Wednesday. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $178.13. The stock has a market cap of $24.84 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 3.48 and a beta of 0.39. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The company's fifty day moving average price is $149.71 and its 200-day moving average price is $150.12.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the business posted $2.63 EPS. The company's quarterly revenue was down 11.3% on a year-over-year basis. On average, equities analysts expect that Constellation Brands Inc will post 11.87 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a dividend of $1.03 per share. This is a boost from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands's dividend payout ratio (DPR) is presently 42.96%.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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