Western Wealth Management LLC raised its position in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,847 shares of the company's stock after purchasing an additional 229 shares during the period. Western Wealth Management LLC's holdings in Constellation Brands were worth $1,157,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company's stock worth $2,902,327,000 after purchasing an additional 313,344 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Constellation Brands by 1.2% during the 1st quarter. BlackRock Inc. now owns 11,738,986 shares of the company's stock valued at $2,703,724,000 after acquiring an additional 140,074 shares during the last quarter. Capital World Investors increased its holdings in shares of Constellation Brands by 4.5% during the 1st quarter. Capital World Investors now owns 9,203,388 shares of the company's stock valued at $2,119,724,000 after acquiring an additional 392,964 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Constellation Brands by 8.0% during the 1st quarter. Bank of America Corp DE now owns 2,376,746 shares of the company's stock valued at $547,412,000 after acquiring an additional 176,991 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Constellation Brands by 0.7% during the 1st quarter. American Century Companies Inc. now owns 1,849,820 shares of the company's stock valued at $426,051,000 after acquiring an additional 12,772 shares during the last quarter. 73.86% of the stock is owned by hedge funds and other institutional investors.
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Constellation Brands Price Performance
Shares of NYSE:STZ opened at $232.73 on Wednesday. Constellation Brands, Inc. has a 1-year low of $207.59 and a 1-year high of $261.52. The firm has a market capitalization of $43.01 billion, a PE ratio of 35.16, a PEG ratio of 1.93 and a beta of 1.01. The business's 50 day moving average is $244.72 and its 200-day moving average is $241.88. The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.
Constellation Brands (NYSE:STZ – Get Rating) last announced its quarterly earnings data on Thursday, June 30th. The company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. Constellation Brands had a return on equity of 17.19% and a net
margin of 12.72%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm earned $2.33 EPS. Constellation Brands's revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands, Inc. will post 11.09 earnings per share for the current year.
Constellation Brands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.37%. Constellation Brands's dividend payout ratio (DPR) is presently 14.05%.
Insider Buying and Selling
In related news, CFO Garth Hankinson sold 2,270 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $255.92, for a total transaction of $580,938.40. Following the completion of the transaction, the chief financial officer now owns 7,176 shares in the company, valued at approximately $1,836,481.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, CFO Garth Hankinson sold 2,270 shares of Constellation Brands stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $255.92, for a total value of $580,938.40. Following the completion of the transaction, the chief financial officer now owns 7,176 shares in the company, valued at approximately $1,836,481.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of Constellation Brands stock in a transaction on 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 completion of the transaction, the insider now owns 100 shares of the company's stock, valued at approximately $24,281. The disclosure for this sale can be found here. Insiders sold 1,619,248 shares of company stock worth $393,239,506 in the last 90 days. 16.19% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on STZ shares. StockNews.com raised Constellation Brands from a "hold" rating to a "buy" rating in a report on Monday, June 20th. BMO Capital Markets started coverage on Constellation Brands in a report on Tuesday, August 2nd. They set an "outperform" rating and a $290.00 price objective on the stock. Redburn Partners started coverage on Constellation Brands in a report on Wednesday, July 13th. They set a "buy" rating on the stock. Wells Fargo & Company raised their target price on Constellation Brands from $275.00 to $280.00 and gave the company an "overweight" rating in a report on Wednesday, June 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $248.00 to $240.00 and set a "hold" rating on the stock in a report on Friday, July 1st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average 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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