Harbour Trust & Investment Management Co Has $8.52 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Harbour Trust & Investment Management Co trimmed its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,072 shares of the company’s stock after selling 444 shares during the period. Harbour Trust & Investment Management Co’s holdings in Constellation Brands were worth $8,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC increased its stake in Constellation Brands by 43.6% during the first quarter. Park Avenue Securities LLC now owns 3,230 shares of the company’s stock valued at $878,000 after acquiring an additional 980 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Constellation Brands by 11.1% in the first quarter. AdvisorNet Financial Inc now owns 572 shares of the company’s stock valued at $155,000 after purchasing an additional 57 shares in the last quarter. Brookstone Capital Management lifted its position in Constellation Brands by 2.3% in the first quarter. Brookstone Capital Management now owns 14,026 shares of the company’s stock worth $3,812,000 after purchasing an additional 312 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in Constellation Brands by 5.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,838 shares of the company’s stock worth $1,043,000 after buying an additional 207 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Constellation Brands by 17.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,983 shares of the company’s stock valued at $539,000 after buying an additional 296 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.4 %

Shares of NYSE:STZ opened at $240.54 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $44.01 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The company’s 50-day moving average price is $246.56 and its two-hundred day moving average price is $250.95.

Constellation Brands (NYSE:STZ) last released its quarterly 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 business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the firm earned $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Jefferies Financial Group upped their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, 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 note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Insider Activity

In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The stock was 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 $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of the firm’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 transaction of $3,259,920.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,367 shares of company stock valued at $32,539,170 over the last 90 days. 12.19% of the stock is owned by company insiders.

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.