KBC Group NV Lowers Position in Constellation Brands, Inc. (NYSE:STZ)

KBC Group NV lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 50.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,214 shares of the company’s stock after selling 201,119 shares during the quarter. KBC Group NV owned 0.11% of Constellation Brands worth $51,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of STZ. Empowered Funds LLC lifted its position in shares of Constellation Brands by 71.0% during the 1st quarter. Empowered Funds LLC now owns 3,316 shares of the company’s stock valued at $901,000 after buying an additional 1,377 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Constellation Brands by 12.4% during the 1st quarter. QRG Capital Management Inc. now owns 3,265 shares of the company’s stock valued at $887,000 after purchasing an additional 360 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Constellation Brands by 14.3% during the first quarter. Russell Investments Group Ltd. now owns 58,814 shares of the company’s stock worth $15,986,000 after acquiring an additional 7,343 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Constellation Brands by 5.7% in the first quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company’s stock worth $780,000 after purchasing an additional 154 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Constellation Brands by 27.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 40,095 shares of the company’s stock valued at $10,896,000 after acquiring an additional 8,585 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,210 shares of company stock worth $31,040,994 in the last three months. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Constellation Brands stock opened at $241.99 on Friday. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $43.94 billion, a P/E ratio of 78.31, a PEG ratio of 1.68 and a beta of 0.90. The stock’s 50 day moving average is $244.49 and its 200 day moving average is $248.30.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating 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 firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the company earned $3.70 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on STZ shares. Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $290.47.

Constellation Brands Company Profile

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.