Secure Asset Management LLC Sells 6,136 Shares of Constellation Brands, Inc. (NYSE:STZ)

Secure Asset Management LLC cut its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 81.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,353 shares of the company's stock after selling 6,136 shares during the period. Secure Asset Management LLC's holdings in Constellation Brands were worth $248,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Capital World Investors grew its stake in shares of Constellation Brands by 3.4% in the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after buying an additional 324,690 shares during the period. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $1,242,976,000. Geode Capital Management LLC grew its stake in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock valued at $705,844,000 after buying an additional 63,323 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Constellation Brands by 0.6% in the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after buying an additional 18,557 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 now directly owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on STZ. Citigroup cut their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Morgan Stanley cut their price target on 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. Barclays lifted their price target on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Roth Mkm cut their price target on Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company cut their price target on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and a consensus target price of $225.74.

Constellation Brands Trading Down 3.6%

NYSE:STZ opened at $170.60 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $30.37 billion, a PE ratio of 45.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm's 50 day moving average is $184.17 and its 200 day moving average is $194.18. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands's revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 EPS. Sell-side analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is -800.00%.

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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