Cullinan Associates Inc. Sells 1,752 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cullinan Associates Inc. reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 40.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,530 shares of the company’s stock after selling 1,752 shares during the quarter. Cullinan Associates Inc.’s holdings in Constellation Brands were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of STZ. New Millennium Group LLC bought a new position in Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC bought a new position in Constellation Brands in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands in the second quarter valued at approximately $36,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Up 0.1 %

Shares of STZ traded up $0.27 during trading hours on Friday, hitting $240.98. 61,619 shares of the stock were exchanged, compared to its average volume of 1,184,173. Constellation Brands, Inc. has a fifty-two week low of $227.64 and a fifty-two week high of $274.87. 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 business has a 50-day moving average of $246.56 and a 200-day moving average of $250.95. The firm has a market capitalization of $44.09 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s payout ratio is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,367 shares of company stock worth $32,539,170 over the last three months. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group cut their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets cut their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.