M&T Bank Corp Sells 18,406 Shares of Constellation Brands Inc (NYSE:STZ)

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 its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands during the 4th quarter worth approximately $1,242,976,000. Norges Bank bought a new position in shares of Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares during the period. D1 Capital Partners L.P. boosted its stake in shares of Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after acquiring an additional 994,639 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock worth $542,391,000 after buying an additional 736,780 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Barclays set a $202.00 price target on Constellation Brands and gave the company an "overweight" rating in a research note on Thursday, June 26th. Needham & Company LLC lifted their price objective on shares of Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. CJS Securities decreased their price objective on shares of Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Finally, Jefferies Financial Group raised shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $194.00 to $205.00 in a research note on Monday. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average target price of $213.74.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the 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 directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 12.45% of the company's stock.

Constellation Brands Stock Down 0.7%

Shares of STZ opened at $169.31 on Thursday. The company has a market capitalization of $30.14 billion, a PE ratio of -70.84, a PEG ratio of 10.34 and a beta of 0.67. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $264.45. The stock's 50-day moving average price is $176.12 and its two-hundred day moving average price is $182.45. 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 the consensus estimate 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 in the previous year, the firm posted $3.57 earnings per share. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.41%. Constellation Brands's payout ratio is -170.71%.

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.

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