E&G Advisors LP Decreases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

E&G Advisors LP decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,095 shares of the company’s stock after selling 50 shares during the quarter. E&G Advisors LP’s holdings in Constellation Brands were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. New Millennium Group LLC purchased a new position in Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the 2nd quarter valued at $32,000. First Financial Corp IN purchased a new position in Constellation Brands during the first quarter worth $35,000. Finally, LRI Investments LLC bought a new position in Constellation Brands during the first quarter valued at $37,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bank of America reaffirmed a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Morgan Stanley dropped their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, Roth Mkm reissued a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $241.52 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $44.19 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The firm has a 50 day moving average of $246.51 and a 200 day moving average of $251.47. Constellation Brands, Inc. has a 52 week low of $227.64 and a 52 week high of $274.87.

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 during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 EPS. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Insider Buying and Selling at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,221 shares of company stock worth $33,007,175 over the last three months. Corporate insiders own 12.19% of the company’s stock.

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.