NGAM Advisors L.P. reduced its position in shares of Constellation Brands Inc (NYSE:STZ) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 12,018 shares of the company’s stock after selling 67 shares during the period. NGAM Advisors L.P.’s holdings in Constellation Brands were worth $2,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Quadrant Capital Group LLC boosted its position in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock worth $115,000 after buying an additional 24 shares in the last quarter. Tompkins Financial Corp boosted its position in Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock worth $116,000 after buying an additional 175 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Constellation Brands during the first quarter worth approximately $117,000. Hanson McClain Inc. boosted its position in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock worth $125,000 after buying an additional 2 shares in the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in Constellation Brands during the first quarter worth approximately $130,000. 76.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of Constellation Brands Inc (NYSE STZ) opened at 195.65 on Friday. The stock’s 50 day moving average is $193.61 and its 200-day moving average is $174.46. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $199.89. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 24.54 and a beta of 0.06.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.98 by $0.36. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. On average, analysts expect that Constellation Brands Inc will post $8.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, August 7th. This represents a $2.08 annualized dividend and a yield of 1.06%. Constellation Brands’s payout ratio is 26.03%.

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A number of research firms recently commented on STZ. Argus increased their target price on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. Vetr cut Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 target price on the stock. in a research note on Tuesday, May 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a research note on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $212.00 price objective (up from $198.00) on shares of Constellation Brands in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $200.53.

In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total value of $954,803.20. Following the transaction, the vice president now directly owns 8,914 shares in the company, valued at approximately $1,722,897.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas J. Mullin sold 23,827 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the completion of the transaction, the vice president now owns 78,524 shares in the company, valued at $15,205,387.36. The disclosure for this sale can be found here. Insiders have sold a total of 95,601 shares of company stock worth $18,586,986 over the last quarter. 15.59% of the stock is currently owned by insiders.

Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

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

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