Greystone Financial Group LLC Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Greystone Financial Group LLC reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,455 shares of the company’s stock after selling 376 shares during the quarter. Greystone Financial Group LLC’s holdings in Constellation Brands were worth $633,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of STZ. Park Avenue Securities LLC raised its holdings in shares of Constellation Brands by 43.6% during the 1st quarter. Park Avenue Securities LLC now owns 3,230 shares of the company’s stock valued at $878,000 after buying an additional 980 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Constellation Brands by 11.1% during the 1st quarter. AdvisorNet Financial Inc now owns 572 shares of the company’s stock valued at $155,000 after buying an additional 57 shares during the period. First Financial Corp IN purchased a new stake in shares of Constellation Brands during the 1st quarter valued at about $35,000. Brookstone Capital Management grew its stake in Constellation Brands by 2.3% during the 1st quarter. Brookstone Capital Management now owns 14,026 shares of the company’s stock valued at $3,812,000 after purchasing an additional 312 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Constellation Brands by 5.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,838 shares of the company’s stock valued at $1,043,000 after purchasing an additional 207 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was 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 directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,221 shares of company stock worth $33,007,175 in the last three months. 12.19% of the stock is currently owned by insiders.

Constellation Brands Trading Down 0.1 %

NYSE:STZ opened at $241.42 on Thursday. Constellation Brands, Inc. has a 12-month low of $227.64 and a 12-month high of $274.87. The firm has a market capitalization of $44.17 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.70 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 business has a 50 day simple moving average of $246.56 and a 200 day simple moving average of $250.95.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the business earned $3.70 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on STZ shares. Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. BMO Capital Markets lowered their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Evercore ISI lowered their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, UBS Group lowered 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. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.