Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,327 shares of the company’s stock after selling 361 shares during the quarter. Synergy Asset Management LLC’s holdings in Constellation Brands were worth $856,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. New Millennium Group LLC purchased a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. purchased a new stake in Constellation Brands in the 1st quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Constellation Brands in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Roth Mkm reduced their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group upped their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. UBS Group upped their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Barclays upped their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $298.26.

Insiders Place Their Bets

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ traded up $1.44 during trading hours on Friday, reaching $249.73. The company’s stock had a trading volume of 61,833 shares, compared to its average volume of 1,170,442. The stock has a market cap of $45.69 billion, a PE ratio of 18.50, a PEG ratio of 1.59 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The company’s 50-day moving average is $246.51 and its two-hundred day moving average is $253.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.91 EPS. Analysts forecast that Constellation Brands, Inc. will post 13.54 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.62%. Constellation Brands’s dividend payout ratio is currently 30.10%.

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.