Camden National Bank Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Camden National Bank decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 31,112 shares of the company’s stock after selling 102 shares during the period. Camden National Bank’s holdings in Constellation Brands were worth $8,017,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at approximately $119,394,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Constellation Brands during the third quarter valued at approximately $2,132,000. Empowered Funds LLC raised its stake in shares of Constellation Brands by 318.8% during the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after purchasing an additional 7,752 shares during the period. Swedbank AB purchased a new stake in shares of Constellation Brands during the first quarter valued at approximately $561,000. Finally, Cetera Advisors LLC raised its stake in shares of Constellation Brands by 182.1% during the first quarter. Cetera Advisors LLC now owns 14,236 shares of the company’s stock valued at $3,869,000 after purchasing an additional 9,190 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the topic of a number of analyst reports. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Evercore ISI dropped their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. UBS Group decreased their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday. Finally, Barclays decreased their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Performance

STZ stock opened at $239.66 on Friday. The company has a market capitalization of $43.51 billion, a P/E ratio of 77.56, a PEG ratio of 1.70 and a beta of 0.90. The company has a 50-day simple moving average of $243.04 and a 200 day simple moving average of $247.56. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week 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.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.70 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

About Constellation Brands

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.