Swiss National Bank cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 690,216 shares of the company’s stock after selling 35,000 shares during the period. Swiss National Bank owned 0.36% of Constellation Brands worth $148,824,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its stake in Constellation Brands by 155.3% during the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock valued at $100,000 after acquiring an additional 278 shares during the period. Atlantic Trust LLC acquired a new stake in Constellation Brands during the 2nd quarter valued at approximately $114,000. Benjamin F. Edwards & Company Inc. lifted its stake in Constellation Brands by 227.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock valued at $115,000 after acquiring an additional 366 shares during the period. Stelac Advisory Services LLC acquired a new stake in Constellation Brands during the 2nd quarter valued at approximately $125,000. Finally, Truvestments Capital LLC acquired a new stake in Constellation Brands during the 3rd quarter valued at approximately $137,000. Institutional investors own 73.89% of the company’s stock.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Macquarie set a $245.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, October 5th. Bank of America decreased their price objective on shares of Constellation Brands from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Finally, Morgan Stanley decreased their price objective on shares of Constellation Brands from $258.00 to $251.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $246.96.

STZ opened at $197.44 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.66 and a debt-to-equity ratio of 0.80. Constellation Brands, Inc. has a 1 year low of $195.01 and a 1 year high of $236.62. The firm has a market capitalization of $37.82 billion, a P/E ratio of 22.64, a PEG ratio of 1.93 and a beta of 0.08.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.27. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the business posted $2.47 EPS. The business’s revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 9.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, November 5th. Constellation Brands’s dividend payout ratio is currently 33.94%.

In related news, Chairman Richard Sands sold 148,773 shares of the business’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $223.69, for a total value of $33,279,032.37. Following the completion of the sale, the chairman now owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas Michael Kane sold 4,419 shares of the business’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $223.83, for a total transaction of $989,104.77. Following the completion of the sale, the vice president now directly owns 8,499 shares of the company’s stock, valued at approximately $1,902,331.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 578,723 shares of company stock valued at $129,438,449. Company insiders own 15.80% of the company’s stock.

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Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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