Douglas Lane & Associates LLC Sells 19,061 Shares of Constellation Brands, Inc. (NYSE:STZ)

Douglas Lane & Associates LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 12.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,622 shares of the company's stock after selling 19,061 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.08% of Constellation Brands worth $25,623,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in STZ. Van ECK Associates Corp increased its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Copperleaf Capital LLC bought a new position in shares of Constellation Brands during the fourth quarter worth about $343,000. Empowered Funds LLC boosted its holdings in Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock worth $3,663,000 after purchasing an additional 6,391 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Constellation Brands by 29.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,021 shares of the company's stock worth $3,566,000 after acquiring an additional 3,660 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Constellation Brands by 19.6% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 9,238 shares of the company's stock worth $2,042,000 after purchasing an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, April 11th. Morgan Stanley decreased their target price on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Barclays raised their price objective 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. Finally, BMO Capital Markets cut their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.74.

Constellation Brands Stock Down 3.9%

NYSE STZ traded down $6.82 during trading on Thursday, reaching $170.15. 1,683,535 shares of the company's stock were exchanged, compared to its average volume of 2,482,614. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The company's fifty day simple moving average is $184.42 and its 200-day simple moving average is $194.64. The firm has a market capitalization of $30.29 billion, a PE ratio of 45.74, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The firm's revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.40%. Constellation Brands's dividend payout ratio (DPR) is presently -800.00%.

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.