Axa Has $19.69 Million Position in Constellation Brands, Inc. (STZ)

Axa lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 37.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,326 shares of the company’s stock after selling 55,131 shares during the quarter. Axa’s holdings in Constellation Brands were worth $19,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New England Research & Management Inc. acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $634,000. Arrow Financial Corp boosted its holdings in shares of Constellation Brands by 4.0% in the second quarter. Arrow Financial Corp now owns 8,946 shares of the company’s stock valued at $1,958,000 after buying an additional 341 shares during the period. HRT Financial LLC boosted its holdings in shares of Constellation Brands by 71.3% in the second quarter. HRT Financial LLC now owns 22,518 shares of the company’s stock valued at $4,928,000 after buying an additional 9,374 shares during the period. Braun Stacey Associates Inc. boosted its holdings in shares of Constellation Brands by 1.5% in the third quarter. Braun Stacey Associates Inc. now owns 73,650 shares of the company’s stock valued at $15,880,000 after buying an additional 1,115 shares during the period. Finally, Cozad Asset Management Inc. acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $5,809,000. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Shares of STZ stock opened at $192.84 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66. The firm has a market capitalization of $36.80 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.88 and a beta of 0.08. Constellation Brands, Inc. has a 12 month low of $187.87 and a 12 month high of $236.62.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 4th. The company reported $2.87 EPS for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Analysts anticipate that Constellation Brands, Inc. will post 9.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, November 5th. Constellation Brands’s dividend payout ratio is presently 10.67%.

Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Friday, October 12th. SunTrust Banks cut shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $260.00 to $220.00 in a report on Monday, September 10th. Morgan Stanley set a $255.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Friday, October 5th. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $260.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, September 27th. Finally, Deutsche Bank upped their price target on shares of Constellation Brands from $233.00 to $245.00 and gave the company a “buy” rating in a report on Friday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $246.96.

In other news, CEO Robert Sands sold 136,547 shares of the business’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $223.62, for a total value of $30,534,640.14. Following the sale, the chief executive officer now owns 737,607 shares of the company’s stock, valued at $164,943,677.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas Michael Kane sold 4,419 shares of the business’s stock in a transaction on Friday, October 19th. The stock was sold at an average price of $223.83, for a total transaction of $989,104.77. Following the completion of the sale, the vice president now directly owns 8,499 shares in the company, valued at approximately $1,902,331.17. The disclosure for this sale can be found here. In the last three months, insiders sold 578,723 shares of company stock worth $129,438,449. 15.80% of the stock is currently owned by insiders.

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About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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