GWM Advisors LLC Lowers Position in Constellation Brands, Inc. (STZ)

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GWM Advisors LLC lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 11.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,974 shares of the company’s stock after selling 890 shares during the quarter. GWM Advisors LLC’s holdings in Constellation Brands were worth $1,504,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Sun Life Financial INC raised its holdings in Constellation Brands by 155.3% during the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock valued at $100,000 after acquiring an additional 278 shares during the period. Clarus Wealth Advisors bought a new stake in Constellation Brands during the 2nd quarter valued at $111,000. Atlantic Trust LLC bought a new stake in Constellation Brands during the 2nd quarter valued at $114,000. Benjamin F. Edwards & Company Inc. raised its holdings in Constellation Brands by 227.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock valued at $115,000 after acquiring an additional 366 shares during the period. Finally, Stelac Advisory Services LLC bought a new stake in Constellation Brands during the 2nd quarter valued at $125,000. 74.35% of the stock is currently owned by institutional investors.

In related news, CEO Robert Sands sold 151,060 shares of the stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $223.67, for a total value of $33,787,590.20. Following the completion of the transaction, the chief executive officer now directly owns 737,607 shares of the company’s stock, valued at $164,980,557.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard Sands sold 148,773 shares of the stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the completion of the transaction, the chairman now directly owns 346,525 shares of the company’s stock, valued at $77,514,177.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 578,723 shares of company stock valued at $129,438,449. Insiders own 15.80% of the company’s stock.

STZ has been the topic of a number of analyst reports. Deutsche Bank lowered their target price on shares of Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Bank of America lowered their target price on shares of Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Cann reduced their price target on shares of Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Pivotal Research restated a “buy” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, August 15th. Finally, Jefferies Financial Group started coverage on shares of Constellation Brands in a research report on Friday, September 7th. They set a “buy” rating and a $283.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands presently has a consensus rating of “Buy” and a consensus price target of $246.96.

Shares of NYSE:STZ opened at $199.23 on Thursday. The stock has a market cap of $37.60 billion, a PE ratio of 22.85, a PEG ratio of 1.92 and a beta of 0.01. The company has a quick ratio of 0.76, a current ratio of 1.66 and a debt-to-equity ratio of 0.80. Constellation Brands, Inc. has a 12 month low of $196.26 and a 12 month high of $236.62.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 4th. The company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.60 by $0.27. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 earnings per share. On average, equities analysts anticipate that Constellation Brands, Inc. will post 9.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 33.94%.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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