Northcape Wealth Management LLC Sells 60 Shares of Constellation Brands, Inc. (NYSE:STZ)

Northcape Wealth Management LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,798 shares of the company’s stock after selling 60 shares during the period. Northcape Wealth Management LLC’s holdings in Constellation Brands were worth $2,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STZ. Capital International Investors boosted its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Norges Bank acquired a new position in Constellation Brands in the 4th quarter worth $443,844,000. Capital World Investors increased its holdings in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares in the last quarter. Boston Partners acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $156,358,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $119,394,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock traded up $1.48 during trading on Friday, reaching $245.18. 637,081 shares of the company’s stock were exchanged, compared to its average volume of 1,175,121. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The firm’s fifty day moving average price is $250.01 and its 200-day moving average price is $253.77. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $44.86 billion, a PE ratio of 18.27, a PEG ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.91 earnings per share. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.65%. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Insider Transactions at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on 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 approximately $2,808,480. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last quarter. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Mkm decreased their price objective on Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a report on Friday, July 5th. Jefferies Financial Group lifted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. UBS Group boosted their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. Finally, Barclays lifted their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.28.

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.