Linscomb Wealth Inc. Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Linscomb Wealth Inc. cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,098 shares of the company’s stock after selling 92 shares during the period. Linscomb Wealth Inc.’s holdings in Constellation Brands were worth $3,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands in the second quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the second quarter worth about $32,000. Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands during the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands during the second quarter valued at $36,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the firm’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 owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock worth $31,040,994 over the last 90 days. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. BMO Capital Markets cut their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Finally, Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Price Performance

Shares of NYSE:STZ traded down $3.42 during trading on Friday, hitting $238.58. 232,097 shares of the company’s stock were exchanged, compared to its average volume of 1,197,555. The business’s 50-day simple moving average is $244.36 and its 200 day simple moving average is $248.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a market cap of $43.32 billion, a price-to-earnings ratio of 77.63, a PEG ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.70 earnings per share. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Constellation Brands 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.