Stonegate Investment Group LLC Purchases New Position in Constellation Brands, Inc. (NYSE:STZ)

Stonegate Investment Group LLC acquired a new position in Constellation Brands, Inc. (NYSE:STZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,128 shares of the company’s stock, valued at approximately $291,000.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC increased its position in Constellation Brands by 48.5% in the third quarter. V Square Quantitative Management LLC now owns 1,172 shares of the company’s stock worth $302,000 after purchasing an additional 383 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Constellation Brands by 1.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,116 shares of the company’s stock worth $4,411,000 after buying an additional 317 shares in the last quarter. Secure Asset Management LLC increased its holdings in shares of Constellation Brands by 19.2% in the 3rd quarter. Secure Asset Management LLC now owns 6,344 shares of the company’s stock worth $1,635,000 after buying an additional 1,022 shares during the last quarter. Compass Wealth Management LLC raised its position in shares of Constellation Brands by 5.6% during the 3rd quarter. Compass Wealth Management LLC now owns 37,839 shares of the company’s stock valued at $9,751,000 after buying an additional 2,022 shares in the last quarter. Finally, nVerses Capital LLC lifted its holdings in shares of Constellation Brands by 31.0% in the 3rd quarter. nVerses Capital LLC now owns 3,800 shares of the company’s stock valued at $979,000 after acquiring an additional 900 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on STZ shares. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Morgan Stanley cut their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Finally, Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,221 shares of company stock worth $33,007,175. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Up 0.6 %

Shares of NYSE STZ opened at $241.52 on Friday. Constellation Brands, Inc. has a 52-week low of $227.64 and a 52-week high of $274.87. The firm has a market capitalization of $44.19 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.70 and a beta of 1.75. The stock has a 50 day moving average price of $246.51 and a 200 day moving average price of $251.47. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.70 EPS. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) 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.