UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 91,813 Shares of Constellation Brands, Inc. (NYSE:STZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,109,109 shares of the company’s stock after selling 91,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.61% of Constellation Brands worth $285,806,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of STZ. Oakworth Capital Inc. boosted its stake in shares of Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after acquiring an additional 42 shares in the last quarter. PFG Investments LLC boosted its position in Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC grew its holdings in Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the last quarter. Burns Matteson Capital Management LLC raised its position in shares of Constellation Brands by 1.5% in the second quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock valued at $749,000 after purchasing an additional 44 shares during the period. Finally, Metis Global Partners LLC lifted its stake in shares of Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after buying an additional 46 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STZ shares. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. UBS Group dropped their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Bank of America reissued a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Wells Fargo & Company reduced their target price on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Tuesday. 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 company currently has an average rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Stock Up 2.1 %

NYSE STZ opened at $240.85 on Friday. The stock’s 50 day simple moving average is $241.72 and its 200 day simple moving average is $246.80. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The firm has a market cap of $43.73 billion, a PE ratio of 77.94, a price-to-earnings-growth ratio of 1.67 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.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping 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 company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

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.