ING Groep NV Sells 74,442 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• ING Groep NV reduced its stake in Constellation Brands by 78.9%, selling 74,442 shares and now holding 19,928 shares valued at approximately $3.65 million.
• Analysts have given a consensus rating of "Moderate Buy" for Constellation Brands, with a price target averaging $213.74.
• Constellation Brands announced a quarterly dividend of $1.02 per share, with an annualized yield of 2.4%, set to be paid on August 14th.

ING Groep NV decreased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 78.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,928 shares of the company's stock after selling 74,442 shares during the quarter. ING Groep NV's holdings in Constellation Brands were worth $3,657,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position in Constellation Brands by 5.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 123,405 shares of the company's stock valued at $22,647,000 after acquiring an additional 6,748 shares in the last quarter. Haven Private LLC purchased a new stake in Constellation Brands in the 1st quarter valued at about $346,000. Liberty Wealth Management LLC purchased a new stake in Constellation Brands in the 1st quarter valued at about $7,205,000. Banco Santander S.A. purchased a new stake in Constellation Brands in the 1st quarter valued at about $247,000. Finally, TIAA Trust National Association increased its stake in Constellation Brands by 3,509.4% in the 1st quarter. TIAA Trust National Association now owns 92,943 shares of the company's stock valued at $17,057,000 after buying an additional 90,368 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on STZ shares. Raymond James Financial upgraded shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Morgan Stanley decreased their price objective on shares of 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. Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the stock from $194.00 to $205.00 in a research note on Monday, July 7th. Finally, UBS Group raised their price target on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Eleven 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, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Insider Transactions at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the company'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 transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the 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 owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $170.70 on Wednesday. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. 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 company's 50-day moving average is $169.60 and its 200 day moving average is $177.06. The stock has a market capitalization of $30.09 billion, a P/E ratio of -71.42, a P/E/G ratio of 10.31 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during 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%. Constellation Brands's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.57 EPS. On average, sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

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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