NorthCrest Asset Manangement LLC bought a new position in Constellation Brands, Inc. (NYSE:STZ – Get Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,002 shares of the company's stock, valued at approximately $234,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Stratos Wealth Advisors LLC grew its holdings in shares of Constellation Brands by 23.9% during the first quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company's stock valued at $671,000 after buying an additional 561 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Constellation Brands by 2.2% during the first quarter. Stratos Wealth Partners LTD. now owns 11,103 shares of the company's stock valued at $2,557,000 after buying an additional 244 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its holdings in shares of Constellation Brands by 0.3% during the first quarter. Chevy Chase Trust Holdings Inc. now owns 101,075 shares of the company's stock valued at $23,279,000 after buying an additional 293 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Constellation Brands by 1.2% during the first quarter. Mutual of America Capital Management LLC now owns 36,511 shares of the company's stock valued at $8,409,000 after buying an additional 424 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Constellation Brands by 15.8% during the first quarter. Victory Capital Management Inc. now owns 292,551 shares of the company's stock valued at $68,229,000 after buying an additional 39,949 shares in the last quarter. Hedge funds and other institutional investors own 73.86% of the company's stock.
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Insider Transactions at Constellation Brands
In related news, major shareholder Wildstar Partners Llc sold 183,332 shares of the business's stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $44,514,842.92. Following the transaction, the insider now directly owns 100 shares in the company, valued at $24,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Garth Hankinson sold 2,270 shares of the business's stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $255.92, for a total transaction of $580,938.40. Following the transaction, the chief financial officer now directly owns 7,176 shares in the company, valued at $1,836,481.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of the business's stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $44,514,842.92. Following the transaction, the insider now owns 100 shares in the company, valued at $24,281. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,619,248 shares of company stock worth $393,239,506. Company insiders own 16.19% of the company's stock.
Constellation Brands Trading Up 0.6 %
Constellation Brands stock opened at $232.66 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 1.40. The business's 50-day simple moving average is $244.96 and its 200-day simple moving average is $241.94. The firm has a market capitalization of $42.99 billion, a PE ratio of 35.15, a PEG ratio of 1.93 and a beta of 1.01. Constellation Brands, Inc. has a 52 week low of $207.59 and a 52 week high of $261.52.
Constellation Brands (NYSE:STZ – Get Rating) last posted its quarterly earnings data on Thursday, June 30th. The company reported $2.66 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.16 billion. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. The firm's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. Equities research analysts forecast that Constellation Brands, Inc. will post 11.09 earnings per share for the current year.
Constellation Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a $0.80 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.38%. Constellation Brands's payout ratio is presently 14.05%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Barclays lifted their price objective on Constellation Brands from $272.00 to $281.00 and gave the company an "overweight" rating in a research report on Tuesday, July 5th. TheStreet cut Constellation Brands from a "b" rating to a "c+" rating in a research report on Tuesday, September 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on Constellation Brands from $248.00 to $240.00 and set a "hold" rating for the company in a research report on Friday, July 1st. BMO Capital Markets assumed coverage on Constellation Brands in a research report on Tuesday, August 2nd. They set an "outperform" rating and a $290.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Constellation Brands from $263.00 to $287.00 and gave the company an "overweight" rating in a research report on Thursday, September 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $272.73.
Constellation Brands Company Profile
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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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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