Sigma Planning Corp Trims Holdings in Constellation Brands Inc (NYSE:STZ)

Sigma Planning Corp trimmed its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 49.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,940 shares of the company's stock after selling 1,933 shares during the period. Sigma Planning Corp's holdings in Constellation Brands were worth $356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its holdings in Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Constellation Brands by 137.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock worth $405,000 after acquiring an additional 1,274 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after acquiring an additional 1,651 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Constellation Brands by 7.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after acquiring an additional 1,185 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Constellation Brands by 3.0% during the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after acquiring an additional 65 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's 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 completion of the sale, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.45% of the company's stock.

Constellation Brands Stock Down 0.5%

Shares of NYSE:STZ opened at $170.72 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The company has a 50 day moving average of $173.47 and a two-hundred day moving average of $179.24. The company has a market capitalization of $30.10 billion, a price-to-earnings ratio of -71.43, a price-to-earnings-growth ratio of 10.32 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the business earned $3.57 EPS. The firm's revenue was down 5.5% compared to the same quarter last year. As a group, analysts forecast that Constellation Brands Inc will post 13.5 earnings per share 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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Cowen reiterated a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Bernstein Bank cut their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research report on Thursday, June 5th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned 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 a consensus rating of "Moderate Buy" and an average price target of $213.74.

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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