Ironwood Investment Counsel LLC Has $415,000 Stake in Constellation Brands, Inc. (NYSE:STZ)

Ironwood Investment Counsel LLC trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 28.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,611 shares of the company’s stock after selling 636 shares during the period. Ironwood Investment Counsel LLC’s holdings in Constellation Brands were worth $415,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $119,394,000. Finally, Raymond James & Associates boosted its stake in shares of Constellation Brands by 14.4% in the 2nd quarter. Raymond James & Associates now owns 443,084 shares of the company’s stock valued at $113,997,000 after purchasing an additional 55,932 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of STZ stock opened at $240.95 on Friday. The company has a market cap of $43.75 billion, a price-to-earnings ratio of 77.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. 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 50 day moving average of $241.72 and a 200-day moving average of $246.75.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STZ. BNP Paribas began coverage on shares of Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, UBS Group dropped their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.16.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value 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. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by company insiders.

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.