Choate Investment Advisors trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 10.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,299 shares of the company’s stock after selling 742 shares during the quarter. Choate Investment Advisors’ holdings in Constellation Brands were worth $1,220,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STZ. Oppenheimer Asset Management Inc. increased its holdings in shares of Constellation Brands by 50.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after purchasing an additional 193 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at approximately $117,000. Hanson McClain Inc. increased its holdings in shares of Constellation Brands by 0.3% during the 1st quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after purchasing an additional 2 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Constellation Brands by 11.6% during the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after purchasing an additional 78 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Constellation Brands by 609.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after purchasing an additional 670 shares in the last quarter. 74.95% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on STZ shares. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price for the company in a report on Thursday, June 22nd. Argus lifted their target price on shares of Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $215.00 target price (up from $205.00) on shares of Constellation Brands in a report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $212.00 target price (up from $198.00) on shares of Constellation Brands in a report on Friday, June 30th. Finally, Morgan Stanley lifted their target price on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $202.00.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/09/17/choate-investment-advisors-sells-742-shares-of-constellation-brands-inc-stz.html.

Shares of Constellation Brands Inc (STZ) traded down 0.48% during midday trading on Friday, reaching $203.40. 1,398,954 shares of the company’s stock traded hands. The stock’s 50 day moving average is $198.27 and its 200-day moving average is $182.34. The company has a market capitalization of $39.72 billion, a PE ratio of 25.51 and a beta of 0.03. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. Constellation Brands’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Constellation Brands Inc will post $8.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, August 7th. Constellation Brands’s dividend payout ratio is currently 26.03%.

In other news, VP Thomas J. Mullin sold 23,827 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the transaction, the vice president now owns 86,005 shares of the company’s stock, valued at approximately $16,727,972.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,118 shares of company stock valued at $21,052,835. Company insiders own 15.59% of the company’s stock.

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.

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

Receive News & Ratings for Constellation Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.