New Century Financial Group LLC Purchases New Shares in Constellation Brands, Inc. (NYSE:STZ)

New Century Financial Group LLC acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the first quarter, HoldingsChannel reports. The fund acquired 1,017 shares of the company’s stock, valued at approximately $276,000.

Several other institutional investors have also added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new position in Constellation Brands in the fourth quarter worth about $28,000. First Financial Corp IN bought a new position in shares of Constellation Brands in the 1st quarter worth approximately $35,000. Kapitalo Investimentos Ltda purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $35,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $37,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Constellation Brands in the first quarter worth $46,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

Shares of STZ stock opened at $250.37 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average price of $254.77 and a 200-day moving average price of $253.97. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The firm has a market capitalization of $45.81 billion, a PE ratio of 26.69, a P/E/G ratio of 1.66 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.91 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.61%. Constellation Brands’s payout ratio is 43.07%.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. Insiders sold a total of 48,031 shares of company stock worth $12,582,321 in the last three months. 12.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STZ. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday. Roth Mkm reissued a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, UBS Group cut their price target on Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $298.63.

Constellation Brands Profile

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.