Lipe & Dalton Sells 724 Shares of Constellation Brands Inc (NYSE:STZ)

Lipe & Dalton cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,190 shares of the company’s stock after selling 724 shares during the quarter. Lipe & Dalton’s holdings in Constellation Brands were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands during the fourth quarter valued at about $29,000. Optiver Holding B.V. purchased a new stake in Constellation Brands during the fourth quarter valued at about $31,000. Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands during the first quarter valued at about $32,000. Rakuten Securities Inc. raised its position in Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $44,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Down 0.1%

STZ stock traded down $0.10 during trading on Friday, hitting $171.42. 231,543 shares of the stock traded hands, compared to its average volume of 1,932,946. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. The firm’s 50 day moving average is $173.86 and its two-hundred day moving average is $180.18. The stock has a market cap of $30.22 billion, a price-to-earnings ratio of -71.78, a price-to-earnings-growth ratio of 10.18 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data 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 negative net margin of 4.11% and a positive return on equity of 31.41%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the company posted $3.57 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, July 30th. Constellation Brands’s dividend payout ratio (DPR) is -170.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STZ. UBS Group boosted their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Needham & Company LLC boosted their price objective on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 3rd. Raymond James Financial upgraded shares of Constellation Brands to a “strong-buy” rating in a report on Monday, July 7th. BMO Capital Markets decreased their target price on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Finally, Citigroup lifted their target price on shares of Constellation Brands from $170.00 to $174.00 and gave the stock a “neutral” rating in a research note on Thursday, July 3rd. 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 stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average target price of $213.74.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.45% of the company’s stock.

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.