Joho Capital LLC Sells 2,300 Shares of Constellation Brands, Inc. (NYSE:STZ)

Joho Capital LLC trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,815 shares of the company’s stock after selling 2,300 shares during the period. Constellation Brands makes up about 0.4% of Joho Capital LLC’s holdings, making the stock its 10th biggest holding. Joho Capital LLC’s holdings in Constellation Brands were worth $2,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC purchased a new position in Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the second quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the 2nd quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the 2nd quarter worth $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. JPMorgan Chase & Co. reduced 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. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday. They set a “neutral” rating and a $261.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.16.

Insider Activity at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 in the last 90 days. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Up 1.0 %

STZ stock opened at $235.97 on Friday. The firm has a market cap of $42.84 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 1.67 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. The firm has a fifty day moving average price of $241.87 and a two-hundred day moving average price of $246.92. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. Constellation Brands’s dividend payout ratio is currently 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.