Lee Danner & Bass Inc. Decreases Stake in Constellation Brands Inc (NYSE:STZ)

Lee Danner & Bass Inc. trimmed its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,525 shares of the company's stock after selling 1,486 shares during the quarter. Lee Danner & Bass Inc.'s holdings in Constellation Brands were worth $3,033,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in STZ. SBI Securities Co. Ltd. acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $26,000. Minot DeBlois Advisors LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $29,000. Optiver Holding B.V. acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $31,000. Laurel Wealth Advisors LLC acquired a new position in Constellation Brands in the 1st quarter valued at $32,000. Finally, Rakuten Securities Inc. raised its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Down 1.1%

Constellation Brands stock traded down $1.81 during midday trading on Monday, reaching $170.51. 2,565,421 shares of the stock traded hands, compared to its average volume of 1,913,358. The company has a 50-day simple moving average of $177.11 and a two-hundred day simple moving average of $183.02. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45. The firm has a market cap of $30.35 billion, a PE ratio of -71.34, a price-to-earnings-growth ratio of 9.57 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter last year, the business earned $3.57 earnings per share. The business's revenue was down 5.5% compared to the same quarter last year. Research analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Analysts Set New Price Targets

STZ has been the subject of several recent research reports. Roth Capital reduced their price objective on Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Bernstein Bank reduced their price objective on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Raymond James Financial raised Constellation Brands to a "strong-buy" rating in a research note on Monday. Finally, DA Davidson cut their target price on Constellation Brands from $272.00 to $241.00 in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Insider Activity

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 value of $593,901.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.