Mirador Capital Partners LP Has $1.23 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Mirador Capital Partners LP lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 17.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,532 shares of the company’s stock after buying an additional 685 shares during the period. Mirador Capital Partners LP’s holdings in Constellation Brands were worth $1,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Constellation Brands during the fourth quarter worth $443,844,000. Darsana Capital Partners LP grew its stake in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after buying an additional 650,000 shares during the last quarter. Boston Partners bought a new position in Constellation Brands in the 4th quarter valued at about $156,358,000. International Assets Investment Management LLC lifted its position in Constellation Brands by 24,922.5% during the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after acquiring an additional 564,744 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after acquiring an additional 388,390 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ traded up $2.12 on Monday, reaching $259.40. 48,432 shares of the company’s stock traded hands, compared to its average volume of 1,180,530. The stock’s 50 day simple moving average is $255.34 and its two-hundred day simple moving average is $253.76. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The stock has a market cap of $47.47 billion, a PE ratio of 27.43, a PEG ratio of 1.71 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. On average, analysts forecast that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a dividend of $1.01 per share. The ex-dividend date was Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.56%. Constellation Brands’s dividend payout ratio is currently 43.07%.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Bank of America lifted their target price on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Roth Mkm restated a “buy” rating and issued a $305.00 price target on shares of Constellation Brands in a research note on Friday, April 12th. BMO Capital Markets lifted their price objective on shares of Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $298.37.

Insider Activity

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock worth $12,582,321. 12.19% of the stock is owned by company insiders.

About Constellation Brands

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.