Harbor Spring Capital LLC Sells 12,000 Shares of Constellation Brands Inc (STZ)

Harbor Spring Capital LLC cut its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,000 shares of the company’s stock after selling 12,000 shares during the quarter. Constellation Brands makes up about 5.0% of Harbor Spring Capital LLC’s investment portfolio, making the stock its 9th biggest position. Harbor Spring Capital LLC owned about 0.10% of Constellation Brands worth $40,688,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bluestein R H & Co. increased its holdings in shares of Constellation Brands by 1,502.6% in the third quarter. Bluestein R H & Co. now owns 48,111 shares of the company’s stock worth $9,596,000 after purchasing an additional 45,109 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Constellation Brands by 25.2% in the third quarter. Private Advisor Group LLC now owns 12,404 shares of the company’s stock worth $2,579,000 after purchasing an additional 2,498 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Constellation Brands in the third quarter worth about $202,000. Stifel Financial Corp increased its holdings in shares of Constellation Brands by 6.0% in the third quarter. Stifel Financial Corp now owns 61,239 shares of the company’s stock worth $12,220,000 after purchasing an additional 3,465 shares during the last quarter. Finally, HCR Wealth Advisors increased its holdings in shares of Constellation Brands by 36.7% in the third quarter. HCR Wealth Advisors now owns 3,367 shares of the company’s stock worth $672,000 after purchasing an additional 904 shares during the last quarter. 75.04% of the stock is currently owned by institutional investors and hedge funds.

In other Constellation Brands news, insider William A. Newlands sold 2,935 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $210.10, for a total transaction of $616,643.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Insiders have sold 73,662 shares of company stock worth $15,564,585 over the last three months. 15.59% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on STZ. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a report on Sunday, November 12th. Citigroup reaffirmed a “neutral” rating and issued a $232.00 target price (up from $211.00) on shares of Constellation Brands in a report on Monday, October 9th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $237.00 target price (up from $220.00) on shares of Constellation Brands in a report on Friday, October 6th. Cowen reaffirmed an “outperform” rating and issued a $243.00 target price (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $235.00 target price (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $216.00.

Shares of Constellation Brands Inc (NYSE STZ) traded up $1.01 during midday trading on Monday, reaching $218.60. The company’s stock had a trading volume of 1,082,100 shares, compared to its average volume of 1,460,990. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $227.20. The company has a market capitalization of $42,759.69, a PE ratio of 26.50, a P/E/G ratio of 1.41 and a beta of 0.08.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. equities analysts predict that Constellation Brands Inc will post 8.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.95%. Constellation Brands’s payout ratio is currently 23.85%.

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Constellation Brands Company Profile

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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