Envestnet Asset Management Inc. Purchases 52,694 Shares of Constellation Brands, Inc. (NYSE:STZ)

Envestnet Asset Management Inc. grew its position in Constellation Brands, Inc. (NYSE:STZ) by 15.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 403,474 shares of the company’s stock after acquiring an additional 52,694 shares during the period. Envestnet Asset Management Inc.’s holdings in Constellation Brands were worth $103,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of STZ. Vanguard Group Inc. raised its position in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Capital International Investors increased its stake in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares in the last quarter. Capital World Investors raised its holdings in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the last quarter. Capital Research Global Investors lifted its position in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after buying an additional 222,380 shares in the last quarter. Finally, Norges Bank bought a new stake in Constellation Brands during the 4th quarter worth about $443,844,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.4 %

STZ opened at $253.53 on Tuesday. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The firm has a market cap of $46.39 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm’s fifty day moving average is $245.91 and its two-hundred day moving average is $253.94.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $2.91 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on STZ shares. Morgan Stanley dropped their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. 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 research report on Tuesday, September 3rd. Roth Mkm dropped their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Barclays raised their price target on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.78.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were 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 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. 12.19% of the stock is owned by corporate 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.