Hantz Financial Services Inc. Invests $1.04 Million in Constellation Brands, Inc. (NYSE:STZ)

Hantz Financial Services Inc. purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,051 shares of the company’s stock, valued at approximately $1,042,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital International Investors boosted its holdings in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Norges Bank bought a new position in Constellation Brands in the 4th quarter valued at $443,844,000. Capital World Investors raised its stake in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the period. Boston Partners purchased a new position in shares of Constellation Brands in the 4th quarter worth about $156,358,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the second quarter worth about $119,394,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STZ. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Barclays increased their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. UBS Group lifted their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, Truist Financial restated a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $299.21.

Constellation Brands Price Performance

STZ opened at $240.71 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $44.04 billion, a P/E ratio of 17.94, a PEG ratio of 1.62 and a beta of 1.75. The stock has a 50-day moving average price of $247.73 and a 200-day moving average price of $253.58. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.91 earnings per share. Equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s payout ratio is 30.10%.

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.