2Xideas AG Sells 2,060 Shares of Constellation Brands, Inc. (NYSE:STZ)

2Xideas AG lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,371 shares of the company’s stock after selling 2,060 shares during the period. Constellation Brands makes up 2.3% of 2Xideas AG’s portfolio, making the stock its 11th biggest position. 2Xideas AG’s holdings in Constellation Brands were worth $18,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. YHB Investment Advisors Inc. acquired a new position in Constellation Brands in the 1st quarter worth $35,000. Kapitalo Investimentos Ltda bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $35,000. First Financial Corp IN acquired a new position in shares of Constellation Brands during the first quarter worth about $35,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Constellation Brands during the fourth quarter worth about $37,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Constellation Brands in the 1st quarter valued at approximately $45,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold 31,068 shares of company stock worth $8,088,556 in the last ninety days. 12.19% of the stock is owned by company insiders.

Constellation Brands Stock Performance

STZ stock traded down $2.87 during midday trading on Tuesday, reaching $243.30. 1,133,335 shares of the company were exchanged, compared to its average volume of 1,207,728. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The firm has a market capitalization of $44.33 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.67 and a beta of 0.87. The business has a 50-day moving average price of $252.62 and a two-hundred day moving average price of $254.91. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the company posted $2.91 EPS. Constellation Brands’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.66%. Constellation Brands’s payout ratio is currently 30.10%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STZ shares. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research note on Wednesday, April 10th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a research report on Monday, April 15th. UBS Group boosted their price target on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. raised their price objective on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $300.28.

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.