Constellation Brands Inc (NYSE:STZ) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,839 shares of the company's stock after selling 18,406 shares during the quarter. M&T Bank Corp's holdings in Constellation Brands were worth $7,678,000 as of its most recent filing with the SEC.

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

Constellation Brands Price Performance

NYSE:STZ traded up $0.15 during trading hours on Friday, hitting $172.27. The company's stock had a trading volume of 1,370,929 shares, compared to its average volume of 1,922,487. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The business's 50-day moving average is $175.56 and its two-hundred day moving average is $181.71. The company has a market capitalization of $30.67 billion, a PE ratio of -72.08, a PEG ratio of 10.42 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results 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). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company earned $3.57 earnings per share. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. Constellation Brands's payout ratio is -170.71%.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research reports. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. CJS Securities reduced their price target on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Bank of America increased their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Finally, Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their target price for the stock from $194.00 to $205.00 in a research note on Monday. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.45% of the stock is owned by company 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.