Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 17.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791,475 shares of the company’s stock after selling 162,319 shares during the quarter. Franklin Resources Inc.’s holdings in Constellation Brands were worth $194,473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oakworth Capital Inc. boosted its holdings in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after acquiring an additional 42 shares in the last quarter. PFG Investments LLC raised its position in shares of Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after purchasing an additional 42 shares during the last quarter. Brighton Jones LLC boosted its stake in Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Metis Global Partners LLC grew its position in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after purchasing an additional 46 shares during the last quarter. Finally, Umpqua Bank increased its stake in Constellation Brands by 4.6% during the 2nd quarter. Umpqua Bank now owns 1,124 shares of the company’s stock valued at $289,000 after purchasing an additional 49 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction dated 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 owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 189,956 shares of company stock worth $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 0.1 %

Shares of STZ stock opened at $239.66 on Friday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a market cap of $43.51 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.69 and a beta of 1.75. 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 stock has a 50 day simple moving average of $238.99 and a 200-day simple moving average of $246.02.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping 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 company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the business 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, equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STZ shares. Morgan Stanley lowered their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Bank of America reiterated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Barclays dropped their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, UBS Group reduced their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $288.70.

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.