Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 25.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,122 shares of the company’s stock after selling 20,989 shares during the quarter. Toronto Dominion Bank’s holdings in Constellation Brands were worth $15,751,000 as of its most recent SEC filing.

A number of 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 during the second quarter worth about $25,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands in the 2nd quarter valued at approximately $32,000. Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the second quarter worth $36,000. Wellington Shields & Co. LLC boosted its position in Constellation Brands by 50.0% during the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Constellation Brands in the third quarter valued at $39,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.2 %

NYSE:STZ opened at $239.44 on Friday. The firm has a market capitalization of $43.47 billion, a P/E ratio of 77.49, a P/E/G ratio of 1.69 and a beta of 1.75. The business has a 50 day simple moving average of $239.22 and a 200 day simple moving average of $246.12. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’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 posted $3.70 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

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

Insider Buying and Selling at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % 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.

Wall Street Analysts Forecast Growth

STZ has been the subject of several research reports. Needham & Company LLC started coverage on Constellation Brands in a research note on Friday, December 6th. They set a “buy” rating and a $280.00 price target for the company. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, BMO Capital Markets dropped their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.70.

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.