Constellation Brands, Inc. (NYSE:STZ) Shares Sold by South Street Advisors LLC

South Street Advisors LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,643 shares of the company’s stock after selling 3,061 shares during the quarter. Constellation Brands accounts for approximately 1.8% of South Street Advisors LLC’s portfolio, making the stock its 26th biggest position. South Street Advisors LLC’s holdings in Constellation Brands were worth $12,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STZ. Natixis Advisors LLC boosted its holdings in Constellation Brands by 37.4% during the 3rd quarter. Natixis Advisors LLC now owns 113,393 shares of the company’s stock valued at $29,220,000 after acquiring an additional 30,862 shares during the period. Koa Wealth Management LLC lifted its stake in Constellation Brands by 4.0% during the third quarter. Koa Wealth Management LLC now owns 10,672 shares of the company’s stock worth $2,750,000 after purchasing an additional 411 shares during the last quarter. Northcape Wealth Management LLC lifted its stake in Constellation Brands by 1.3% during the third quarter. Northcape Wealth Management LLC now owns 9,921 shares of the company’s stock worth $2,557,000 after purchasing an additional 123 shares during the last quarter. First Long Island Investors LLC increased its position in Constellation Brands by 5.5% during the third quarter. First Long Island Investors LLC now owns 46,810 shares of the company’s stock worth $12,062,000 after buying an additional 2,445 shares during the period. Finally, KCM Investment Advisors LLC increased its position in Constellation Brands by 1.7% during the third quarter. KCM Investment Advisors LLC now owns 3,382 shares of the company’s stock worth $872,000 after buying an additional 56 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of STZ traded down $4.49 during midday trading on Friday, reaching $237.51. The stock had a trading volume of 1,426,660 shares, compared to its average volume of 1,203,183. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm’s 50 day moving average price is $244.13 and its 200-day moving average price is $248.09. The company has a market capitalization of $43.12 billion, a P/E ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 EPS. On average, analysts forecast that Constellation Brands, Inc. will post 13.57 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, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on STZ shares. BMO Capital Markets dropped their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Truist Financial dropped their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Finally, UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $290.47.

Insider Transactions at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by corporate 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.