Cullinan Associates Inc. Sells 1,200 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cullinan Associates Inc. reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 47.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,330 shares of the company’s stock after selling 1,200 shares during the quarter. Cullinan Associates Inc.’s holdings in Constellation Brands were worth $294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Park Avenue Securities LLC lifted its position in Constellation Brands by 23.3% during the 3rd quarter. Park Avenue Securities LLC now owns 4,362 shares of the company’s stock worth $1,124,000 after buying an additional 824 shares in the last quarter. Czech National Bank lifted its position in Constellation Brands by 4.0% during the 3rd quarter. Czech National Bank now owns 31,918 shares of the company’s stock worth $8,225,000 after buying an additional 1,239 shares in the last quarter. Diversified Trust Co lifted its position in Constellation Brands by 6.2% during the 3rd quarter. Diversified Trust Co now owns 929 shares of the company’s stock worth $239,000 after buying an additional 54 shares in the last quarter. Mather Group LLC. lifted its position in Constellation Brands by 13.0% during the 3rd quarter. Mather Group LLC. now owns 703 shares of the company’s stock worth $181,000 after buying an additional 81 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in Constellation Brands during the 3rd quarter worth about $215,000. 77.34% of the stock is owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,746 shares of company stock valued at $15,017,097. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $172.72 on Wednesday. The company’s 50 day moving average price is $214.07 and its two-hundred day moving average price is $233.24. Constellation Brands, Inc. has a 12-month low of $166.02 and a 12-month high of $274.87. The firm has a market cap of $31.22 billion, a PE ratio of 46.43, a PEG ratio of 1.59 and a beta of 0.90. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the company earned $3.19 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts predict that Constellation Brands, Inc. will post 13.52 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on STZ shares. Wells Fargo & Company cut their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays lowered their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI lowered their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Needham & Company LLC restated a “buy” rating and set a $240.00 price objective on shares of Constellation Brands in a research note on Monday, January 27th. Finally, TD Cowen lowered their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands 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.