Paloma Partners Management Co Has $7.73 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Paloma Partners Management Co lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 568.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,000 shares of the company’s stock after purchasing an additional 25,512 shares during the quarter. Paloma Partners Management Co’s holdings in Constellation Brands were worth $7,731,000 as of its most recent SEC filing.

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

Insider Buying and Selling 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 stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by insiders.

Constellation Brands Price Performance

Shares of STZ stock opened at $240.95 on Monday. The firm has a market cap of $43.75 billion, a P/E ratio of 77.98, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The business’s 50 day moving average price is $241.72 and its 200-day moving average price is $246.71. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last issued 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. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $3.70 EPS. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is presently 130.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STZ shares. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. Finally, Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.16.

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.