Valley National Advisers Inc. Sells 727 Shares of Constellation Brands Inc $STZ

Valley National Advisers Inc. cut its stake in Constellation Brands Inc (NYSE:STZ) by 27.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,945 shares of the company’s stock after selling 727 shares during the quarter. Valley National Advisers Inc.’s holdings in Constellation Brands were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of STZ. Laurel Wealth Advisors LLC acquired a new position in Constellation Brands in the 1st quarter valued at about $32,000. Rakuten Securities Inc. grew its position in shares of 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 during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Constellation Brands in the first quarter valued at approximately $38,000. Flaharty Asset Management LLC bought a new position in shares of Constellation Brands during the first quarter worth approximately $39,000. Finally, Hoey Investments Inc. acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $138.83 on Tuesday. The company’s 50-day moving average price is $153.05 and its two-hundred day moving average price is $169.08. The firm has a market cap of $24.47 billion, a P/E ratio of -58.09, a P/E/G ratio of 0.43 and a beta of 0.66. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 12 month low of $131.20 and a 12 month high of $247.63.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Monday, October 6th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.26. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.68 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter last year, the business posted $4.32 EPS. On average, analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders 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 dividend yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is presently -170.71%.

Analyst Ratings Changes

A number of brokerages have commented on STZ. Needham & Company LLC decreased their price objective on Constellation Brands from $200.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Morgan Stanley decreased their price target on shares of Constellation Brands from $195.00 to $176.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Constellation Brands in a research note on Saturday, September 27th. Roth Capital reissued a “buy” rating and issued a $209.00 price objective (down previously from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. Finally, Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $188.96.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the business’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares of the company’s stock, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.45% of the company’s stock.

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.