USA Mutuals Advisors Inc. Decreases Position in Constellation Brands, Inc. (NYSE:STZ)

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USA Mutuals Advisors Inc. lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 24.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the company’s stock after selling 6,000 shares during the period. Constellation Brands accounts for 6.0% of USA Mutuals Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. USA Mutuals Advisors Inc.’s holdings in Constellation Brands were worth $3,601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of STZ. Rockbridge Investment Management LCC purchased a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $25,000. Heritage Wealth Advisors boosted its holdings in Constellation Brands by 193.3% in the 2nd quarter. Heritage Wealth Advisors now owns 440 shares of the company’s stock worth $26,000 after buying an additional 290 shares during the period. Ellevest Inc. boosted its holdings in Constellation Brands by 84.1% in the 2nd quarter. Ellevest Inc. now owns 162 shares of the company’s stock worth $28,000 after buying an additional 74 shares during the period. NuWave Investment Management LLC bought a new position in Constellation Brands in the 2nd quarter worth approximately $28,000. Finally, CX Institutional boosted its holdings in Constellation Brands by 183.3% in the 3rd quarter. CX Institutional now owns 170 shares of the company’s stock worth $32,000 after buying an additional 110 shares during the period. Institutional investors own 71.77% of the company’s stock.

STZ has been the subject of several analyst reports. MKM Partners raised their price objective on shares of Constellation Brands from $147.00 to $151.00 in a report on Monday, July 6th. Royal Bank of Canada raised their price objective on shares of Constellation Brands from $216.00 to $243.00 and gave the stock an “outperform” rating in a report on Friday, October 2nd. Barclays reaffirmed a “buy” rating on shares of Constellation Brands in a report on Sunday, October 4th. Jefferies Financial Group raised their price objective on shares of Constellation Brands from $224.00 to $238.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a report on Thursday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $198.37.

In related news, Chairman Robert Sands sold 90,184 shares of Constellation Brands stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $181.20, for a total value of $16,341,340.80. Following the transaction, the chairman now owns 644,719 shares in the company, valued at approximately $116,823,082.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Richard Sands sold 638,407 shares of Constellation Brands stock in a transaction on Friday, July 24th. The stock was sold at an average price of $180.12, for a total transaction of $114,989,868.84. Following the completion of the transaction, the insider now owns 249,763 shares in the company, valued at approximately $44,987,311.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,052,364 shares of company stock worth $189,856,440. 15.77% of the stock is owned by corporate insiders.

Shares of NYSE STZ traded down $0.07 during mid-day trading on Friday, reaching $181.48. 827,589 shares of the company were exchanged, compared to its average volume of 1,449,234. Constellation Brands, Inc. has a 52 week low of $104.28 and a 52 week high of $208.55. The company has a quick ratio of 1.18, a current ratio of 1.94 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $35.17 billion, a PE ratio of 1,008.28, a PEG ratio of 2.07 and a beta of 0.97. The company’s 50 day moving average price is $186.98 and its 200 day moving average price is $174.92.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, October 7th. The company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. Constellation Brands had a net margin of 0.62% and a return on equity of 15.10%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm posted $2.91 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. On average, sell-side analysts predict that Constellation Brands, Inc. will post 8.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, November 5th. Constellation Brands’s payout ratio is presently 10.20%.

Constellation Brands Profile

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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

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