BNP Paribas Has $878,000 Holdings in Constellation Brands, Inc. (NYSE:STZ)

BNP Paribas lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,408 shares of the company’s stock after selling 84 shares during the quarter. BNP Paribas’ holdings in Constellation Brands were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in shares of Constellation Brands during the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the second quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on STZ. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday. They issued a “neutral” rating and a $261.00 target price for the company. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, November 19th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 over the last quarter. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $235.97 on Thursday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The firm has a fifty day simple moving average of $242.12 and a 200 day simple moving average of $247.00. The stock has a market capitalization of $42.84 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 1.71 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

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.