Fairbanks Capital Management Inc. Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Fairbanks Capital Management Inc. lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,048 shares of the company’s stock after selling 74 shares during the period. Fairbanks Capital Management Inc.’s holdings in Constellation Brands were worth $1,372,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of STZ. Raymond James Financial Services Advisors Inc. lifted its position in shares of Constellation Brands by 3.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 62,163 shares of the company’s stock worth $15,028,000 after purchasing an additional 2,271 shares during the period. Ritholtz Wealth Management lifted its position in shares of Constellation Brands by 6.2% in the 4th quarter. Ritholtz Wealth Management now owns 2,414 shares of the company’s stock worth $584,000 after purchasing an additional 140 shares during the period. Global Retirement Partners LLC lifted its position in shares of Constellation Brands by 2.6% in the 4th quarter. Global Retirement Partners LLC now owns 2,019 shares of the company’s stock worth $516,000 after purchasing an additional 52 shares during the period. Caprock Group LLC lifted its position in shares of Constellation Brands by 9.3% in the 4th quarter. Caprock Group LLC now owns 2,817 shares of the company’s stock worth $681,000 after purchasing an additional 239 shares during the period. Finally, Pinnacle Associates Ltd. lifted its position in shares of Constellation Brands by 1.2% in the 4th quarter. Pinnacle Associates Ltd. now owns 15,849 shares of the company’s stock worth $3,831,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction 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 directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. Insiders have sold 31,068 shares of company stock worth $8,088,556 over the last 90 days. 12.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Wedbush reiterated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Barclays boosted their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, HSBC boosted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $300.28.

Constellation Brands Stock Performance

Constellation Brands stock traded down $2.87 during mid-day trading on Tuesday, reaching $243.30. 1,133,335 shares of the company traded hands, compared to its average volume of 1,207,728. 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, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The company 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 firm’s fifty day moving average is $252.62 and its two-hundred day moving average is $254.91.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.91 earnings per share. On average, equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be paid a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. Constellation Brands’s payout ratio is currently 30.10%.

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.