AE Wealth Management LLC Acquires 142 Shares of Constellation Brands, Inc. (NYSE:STZ)

AE Wealth Management LLC grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,530 shares of the company’s stock after acquiring an additional 142 shares during the quarter. AE Wealth Management LLC’s holdings in Constellation Brands were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in STZ. Cambridge Investment Research Advisors Inc. grew its stake in shares of Constellation Brands by 3.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,593 shares of the company’s stock worth $5,462,000 after buying an additional 843 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its position in Constellation Brands by 155.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,264 shares of the company’s stock worth $306,000 after acquiring an additional 770 shares during the last quarter. TD Asset Management Inc increased its holdings in Constellation Brands by 255.1% in the 4th quarter. TD Asset Management Inc now owns 192,536 shares of the company’s stock worth $46,546,000 after purchasing an additional 138,320 shares in the last quarter. Stifel Financial Corp raised its position in Constellation Brands by 3.2% in the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock valued at $46,570,000 after purchasing an additional 5,951 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new position in Constellation Brands in the fourth quarter valued at about $316,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $255.20 on Friday. The business has a 50-day simple moving average of $245.69 and a 200 day simple moving average of $253.93. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 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 firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the company posted $2.91 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STZ. Barclays upped their price objective on Constellation Brands from $295.00 to $309.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Morgan Stanley decreased their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Roth Mkm decreased their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $297.12.

Insider Activity

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

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.