Harbour Trust & Investment Management Co Sells 3,537 Shares of Constellation Brands Inc $STZ

Key Points

• Harbour Trust & Investment Management Co reduced its holdings in Constellation Brands by 59.5%, selling 3,537 shares during the second quarter, leaving it with 2,410 shares valued at $392,000.
• Recent analyst reports have been mixed, with TD Cowen lowering its price target to $152.00 while Needham & Company maintained a "buy" rating and a target of $180.00.
• Constellation Brands is set to pay a quarterly dividend of $1.02 per share on November 13th, with an annualized dividend yield of 2.9% and a payout ratio of 59.56%.

Harbour Trust & Investment Management Co lessened its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 59.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,410 shares of the company's stock after selling 3,537 shares during the period. Harbour Trust & Investment Management Co's holdings in Constellation Brands were worth $392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of STZ. Brighton Jones LLC raised its holdings in Constellation Brands by 23.0% during the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after acquiring an additional 187 shares in the last quarter. Farther Finance Advisors LLC increased its position in Constellation Brands by 179.2% during the first quarter. Farther Finance Advisors LLC now owns 2,069 shares of the company's stock worth $382,000 after buying an additional 1,328 shares during the last quarter. Integrated Advisors Network LLC acquired a new position in Constellation Brands during the first quarter worth approximately $223,000. Grimes & Company Inc. increased its position in Constellation Brands by 13.3% during the first quarter. Grimes & Company Inc. now owns 31,277 shares of the company's stock worth $5,740,000 after buying an additional 3,677 shares during the last quarter. Finally, Grove Bank & Trust increased its position in Constellation Brands by 28.7% during the first quarter. Grove Bank & Trust now owns 3,369 shares of the company's stock worth $618,000 after buying an additional 752 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

STZ has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on Constellation Brands from $180.00 to $152.00 and set a "hold" rating on the stock in a research report on Thursday, September 4th. Morgan Stanley lowered their price target on Constellation Brands from $176.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 7th. Needham & Company LLC reissued a "buy" rating and set a $180.00 price target on shares of Constellation Brands in a research report on Wednesday, October 8th. Zacks Research downgraded Constellation Brands from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 9th. Finally, BNP Paribas Exane downgraded Constellation Brands from a "neutral" rating to an "underperform" rating and set a $123.00 target price on the stock. in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $186.44.

Constellation Brands Trading Up 0.0%

Shares of NYSE:STZ opened at $141.39 on Tuesday. The company has a market capitalization of $24.93 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.42 and a beta of 0.66. Constellation Brands Inc has a 1 year low of $131.20 and a 1 year high of $247.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The business's 50 day simple moving average is $150.20 and its 200 day simple moving average is $167.66.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The business had revenue of $2.32 billion for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. On average, research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands's dividend payout ratio is currently 59.56%.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This represents a 8.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is currently owned by corporate insiders.

About Constellation Brands

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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