Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC cut its position in Constellation Brands, Inc. (NYSE:STZ) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,799 shares of the company’s stock after selling 1,125 shares during the quarter. Constellation Brands accounts for 1.9% of Birch Hill Investment Advisors LLC’s holdings, making the stock its 19th largest holding. Birch Hill Investment Advisors LLC’s holdings in Constellation Brands were worth $39,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Capital International Investors lifted its holdings in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares in the last quarter. Capital World Investors boosted its position in Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the period. Capital Research Global Investors boosted its position in Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during the period. Finally, Norges Bank acquired a new position in shares of Constellation Brands in the fourth quarter worth $443,844,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ traded up $2.74 during trading on Friday, reaching $240.71. The company’s stock had a trading volume of 1,305,519 shares, compared to its average volume of 1,172,703. The business’s fifty day moving average price is $247.73 and its 200-day moving average price is $253.58. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market cap of $44.04 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Activity at Constellation Brands

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. boosted their price objective on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 5th. Morgan Stanley reduced their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Finally, Roth Mkm dropped their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $299.21.

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.