Checchi Capital Advisers LLC cut its stake in Constellation Brands Inc (NYSE:STZ) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,504 shares of the company’s stock after selling 198 shares during the period. Checchi Capital Advisers LLC’s holdings in Constellation Brands were worth $291,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Tompkins Financial Corp raised its stake in shares of Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock valued at $116,000 after buying an additional 175 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at $117,000. Hanson McClain Inc. raised its stake in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Barometer Capital Management Inc. purchased a new stake in shares of Constellation Brands during the first quarter valued at $130,000. Finally, Coconut Grove Bank raised its stake in shares of Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock valued at $144,000 after buying an additional 458 shares during the period. 74.99% of the stock is owned by institutional investors.

Shares of Constellation Brands Inc (NYSE:STZ) opened at 198.57 on Thursday. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $199.89. The stock’s 50 day moving average price is $194.90 and its 200-day moving average price is $175.63. The company has a market cap of $38.78 billion, a P/E ratio of 24.91 and a beta of 0.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 EPS. Equities research analysts expect that Constellation Brands Inc will post $8.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.

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Several equities research analysts recently weighed in on STZ shares. BidaskClub lowered Constellation Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Royal Bank Of Canada reissued a “buy” rating on shares of Constellation Brands in a report on Friday, June 16th. Stifel Nicolaus lifted their price objective on Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $198.00 price objective (down previously from $200.00) on shares of Constellation Brands in a report on Friday, June 23rd. Finally, Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $200.53.

In other Constellation Brands news, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the completion of the transaction, the vice president now owns 86,005 shares in the company, valued at approximately $16,727,972.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry A. Fromberg sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total value of $391,860.00. Following the transaction, the director now owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders have sold a total of 95,601 shares of company stock valued at $18,586,986 in the last 90 days. 15.59% of the stock is currently owned by company insiders.

About Constellation Brands

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

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

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