Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Choreo LLC

Choreo LLC boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 146.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,261 shares of the company’s stock after purchasing an additional 3,722 shares during the quarter. Choreo LLC’s holdings in Constellation Brands were worth $1,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the 2nd quarter valued at about $32,000. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands in the 1st quarter valued at about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Constellation Brands in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.3 %

Shares of NYSE STZ opened at $248.79 on Thursday. The stock has a market cap of $45.52 billion, a P/E ratio of 18.54, a PEG ratio of 1.67 and a beta of 1.75. The business’s fifty day simple moving average is $246.02 and its 200-day simple moving average is $253.79. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. 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 (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business posted $2.91 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Roth Mkm reduced their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Truist Financial restated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Barclays raised their target price on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $296.78.

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.