Brookstone Capital Management Increases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Brookstone Capital Management lifted its position in Constellation Brands, Inc. (NYSE:STZGet Rating) by 32.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,615 shares of the company’s stock after buying an additional 1,859 shares during the quarter. Brookstone Capital Management’s holdings in Constellation Brands were worth $1,885,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in STZ. Curi Wealth Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $25,000. Core Wealth Advisors Inc. purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $26,000. Wagner Wealth Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $26,000. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $32,000. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Jeremy S. G. Fowden sold 7,574 shares of the business’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $240.38, for a total transaction of $1,820,638.12. Following the sale, the director now owns 18,501 shares in the company, valued at approximately $4,447,270.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 3,787 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $254.00, for a total transaction of $961,898.00. Following the sale, the chief executive officer now owns 14,798 shares in the company, valued at approximately $3,758,692. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,822 shares of company stock worth $6,451,256. 16.19% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on STZ shares. Credit Suisse Group raised their target price on shares of Constellation Brands from $278.00 to $295.00 and gave the company an “outperform” rating in a research note on Friday, April 8th. StockNews.com raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a research note on Monday. TheStreet raised shares of Constellation Brands from a “c+” rating to a “b-” rating in a research note on Thursday, April 28th. Wells Fargo & Company lifted their price target on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Finally, UBS Group decreased their price target on shares of Constellation Brands from $285.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.27.

Shares of Constellation Brands stock opened at $239.35 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.65 and a current ratio of 1.23. Constellation Brands, Inc. has a 52-week low of $207.35 and a 52-week high of $261.52. The stock has a market capitalization of $45.05 billion, a price-to-earnings ratio of -1,329.72, a P/E/G ratio of 1.96 and a beta of 1.06. The company’s 50 day moving average price is $243.82 and its 200-day moving average price is $237.51.

Constellation Brands (NYSE:STZGet Rating) last issued its earnings results on Thursday, April 7th. The company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.22. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 11.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Thursday, May 5th were issued a $0.80 dividend. The ex-dividend date was Wednesday, May 4th. This represents a $3.20 annualized dividend and a yield of 1.34%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.14. Constellation Brands’s payout ratio is -516.67%.

Constellation Brands Profile (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

See Also

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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