Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,744,178 shares of the company’s stock after selling 11,516 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.96% of Constellation Brands worth $449,458,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STZ. O Shaughnessy Asset Management LLC increased its stake in Constellation Brands by 21.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,009 shares of the company’s stock worth $1,905,000 after acquiring an additional 1,239 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Constellation Brands by 5.8% during the first quarter. Bessemer Group Inc. now owns 3,551 shares of the company’s stock worth $965,000 after buying an additional 194 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Constellation Brands in the 1st quarter worth $201,000. Axxcess Wealth Management LLC increased its holdings in shares of Constellation Brands by 27.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 5,629 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Constellation Brands by 12.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 334,831 shares of the company’s stock worth $90,994,000 after acquiring an additional 36,701 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $240.84 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company’s fifty day moving average price is $243.30 and its 200-day moving average price is $247.68. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The firm has a market capitalization of $43.73 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 earnings per share. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands’s payout ratio is currently 130.74%.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,296 shares of company stock valued at $45,899,031 in the last 90 days. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STZ shares. Evercore ISI cut their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. UBS Group reduced 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 note on Monday, September 9th. Morgan Stanley reduced 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 note on Monday, August 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.