Toroso Investments LLC increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,841 shares of the company’s stock after buying an additional 419 shares during the quarter. Toroso Investments LLC’s holdings in Constellation Brands were worth $1,319,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of STZ. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after acquiring an additional 313,344 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Constellation Brands by 100.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,890,702 shares of the company’s stock worth $1,782,432,000 after acquiring an additional 3,961,836 shares during the period. Morgan Stanley grew its stake in shares of Constellation Brands by 31.3% during the 4th quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after acquiring an additional 908,486 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Constellation Brands by 84,839.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after acquiring an additional 3,738,028 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Constellation Brands by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 2,863,322 shares of the company’s stock worth $645,055,000 after acquiring an additional 50,672 shares during the period. Institutional investors own 88.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on STZ. Citigroup increased their price target on Constellation Brands from $265.00 to $280.00 in a research note on Wednesday, June 21st. TheStreet cut Constellation Brands from a “b-” rating to a “c+” rating in a report on Tuesday, September 5th. Roth Mkm increased their price objective on Constellation Brands from $270.00 to $284.00 and gave the stock a “buy” rating in a report on Monday, July 3rd. Roth Capital raised Constellation Brands from a “neutral” rating to a “buy” rating in a report on Tuesday, May 30th. Finally, BMO Capital Markets increased their price objective on Constellation Brands from $265.00 to $290.00 and gave the stock an “outperform” rating in a report on Monday, July 3rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $270.05.
Insider Buying and Selling
In related news, Director Ernesto M. Hernandez sold 5,086 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $269.00, for a total transaction of $1,368,134.00. Following the transaction, the director now directly owns 3,649 shares in the company, valued at approximately $981,581. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Ernesto M. Hernandez sold 5,086 shares of Constellation Brands stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $269.00, for a total value of $1,368,134.00. Following the sale, the director now directly owns 3,649 shares in the company, valued at approximately $981,581. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Garth Hankinson sold 1,550 shares of Constellation Brands stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.96, for a total value of $415,338.00. Following the completion of the sale, the chief financial officer now owns 9,491 shares in the company, valued at $2,543,208.36. The disclosure for this sale can be found here. Insiders have sold a total of 100,819 shares of company stock worth $27,054,755 in the last ninety days. 16.19% of the stock is owned by insiders.
Constellation Brands Price Performance
Shares of Constellation Brands stock opened at $260.34 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.53 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $47.73 billion, a PE ratio of -142.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.04. The business’s 50-day moving average price is $262.87 and its 200-day moving average price is $242.09. Constellation Brands, Inc. has a 12 month low of $208.12 and a 12 month high of $273.65.
Constellation Brands (NYSE:STZ – Get Free Report) last announced its quarterly earnings data on Friday, June 30th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.83 by $0.08. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the company earned $2.66 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 11.59 EPS for the current fiscal year.
Constellation Brands Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $0.89 per share. The ex-dividend date was Wednesday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.37%. Constellation Brands’s payout ratio is -194.54%.
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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