Constellation Brands Inc $STZ Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC cut its position in shares of Constellation Brands Inc (NYSE:STZ) by 8.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,373 shares of the company’s stock after selling 119 shares during the period. Checchi Capital Advisers LLC’s holdings in Constellation Brands were worth $223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Constellation Brands by 127.9% in the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after acquiring an additional 2,514,517 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Constellation Brands by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock worth $352,748,000 after acquiring an additional 139,158 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Constellation Brands by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company’s stock worth $310,851,000 after acquiring an additional 76,186 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Constellation Brands by 1.2% in the first quarter. Northern Trust Corp now owns 1,534,357 shares of the company’s stock worth $281,585,000 after acquiring an additional 17,832 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the company’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Constellation Brands stock opened at $140.04 on Wednesday. The firm has a market capitalization of $24.69 billion, a P/E ratio of 20.44, a PEG ratio of 0.42 and a beta of 0.66. The stock has a fifty day moving average price of $152.33 and a 200 day moving average price of $168.88. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $247.63. 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) last announced its quarterly earnings results on Monday, October 6th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.37 by $0.26. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.68 billion. Constellation Brands had a return on equity of 30.03% and a net margin of 11.88%.The firm’s revenue was down 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.32 earnings per share. Equities research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands’s dividend payout ratio is currently -170.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STZ. Morgan Stanley cut their price target on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday. Barclays reissued an “equal weight” rating and issued a $150.00 price target (down from $202.00) on shares of Constellation Brands in a report on Friday, September 12th. Roth Capital reissued a “buy” rating and issued a $209.00 price target (down from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. Jefferies Financial Group cut their price target on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, The Goldman Sachs Group dropped their target price on Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $187.72.

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.