South Street Advisors LLC Sells 3,061 Shares of Constellation Brands, Inc. (NYSE:STZ)

South Street Advisors LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 6.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 46,643 shares of the company’s stock after selling 3,061 shares during the quarter. Constellation Brands makes up approximately 1.8% of South Street Advisors LLC’s holdings, making the stock its 26th biggest holding. South Street Advisors LLC’s holdings in Constellation Brands were worth $12,019,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the period. Capital International Investors grew its stake in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors grew its stake in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors grew its position in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Constellation Brands by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, 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 have sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on STZ shares. Barclays decreased their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. BMO Capital Markets decreased their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Trading Down 1.9 %

Shares of STZ stock traded down $4.49 during trading hours on Friday, reaching $237.51. The company had a trading volume of 1,426,660 shares, compared to its average volume of 1,203,183. The company has a 50 day moving average of $244.13 and a 200 day moving average of $248.09. 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 has a market cap of $43.12 billion, a price-to-earnings ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 EPS. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is presently 130.74%.

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.