Grimes & Company Inc. Sells 4,738 Shares of Constellation Brands Inc $STZ

Grimes & Company Inc. decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,539 shares of the company’s stock after selling 4,738 shares during the quarter. Grimes & Company Inc.’s holdings in Constellation Brands were worth $4,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in shares of Constellation Brands in the 1st quarter valued at about $32,000. Rakuten Securities Inc. grew its stake in Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Constellation Brands during the 1st quarter worth approximately $38,000. Flaharty Asset Management LLC acquired a new position in shares of Constellation Brands during the 1st quarter worth approximately $39,000. Finally, WPG Advisers LLC acquired a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $43,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 1.2%

Constellation Brands stock opened at $142.20 on Monday. The company’s 50-day moving average price is $153.72 and its two-hundred day moving average price is $169.35. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The stock has a market cap of $25.07 billion, a P/E ratio of -59.50, a P/E/G ratio of 0.43 and a beta of 1.75. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $247.96.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands’s payout ratio is -170.71%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company’s stock, valued at $1,595,022. This represents a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STZ. Jefferies Financial Group lowered their target price on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Citigroup decreased their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Morgan Stanley dropped their target price on shares of Constellation Brands from $195.00 to $176.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 3rd. Sanford C. Bernstein cut their target price on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. boosted their price target on Constellation Brands from $170.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $188.96.

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.