May be involved in constitutive endocytosis of a-factor receptor STE3. hexadecanoyl-CoA + L-cysteinyl-[protein] = CoA + S-hexadecanoyl-L-cysteinyl-[protein] The DHHC domain is required for palmitoyltransferase activity. Present with 815 molecules/cell in log phase SD medium. Belongs to the DHHC palmitoyltransferase family. AKR/ZDHHC17 subfamily. It is uncertain whether Met-1 or Met-4 is the initiator.