Benjamin Edwards Inc. Increases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Benjamin Edwards Inc. lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3,785.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,554 shares of the company’s stock after buying an additional 1,514 shares during the period. Benjamin Edwards Inc.’s holdings in Constellation Brands were worth $400,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Capital International Investors grew 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 acquiring an additional 3,304,709 shares during the period. Capital World Investors grew 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. Manning & Napier Advisors LLC purchased a new position in shares of Constellation Brands in the 2nd quarter valued at about $119,394,000. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 3.5% in the first 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 period. Finally, Palestra Capital Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $83,195,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Constellation Brands stock opened at $248.09 on Friday. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. 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 has a 50 day moving average price of $245.42 and a 200 day moving average price of $253.90. The company has a market cap of $45.39 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75.

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. The company had revenue of $2.66 billion during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 EPS. Sell-side analysts predict that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business 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 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 30.10%.

Analysts Set New Price Targets

STZ has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $296.78.

Insiders Place Their Bets

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on 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 directly owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on 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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. Insiders have sold a total of 16,414 shares of company stock worth $3,982,922 over the last quarter. 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.