999 Shares in Constellation Brands, Inc. (NYSE:STZ) Acquired by Capital Investment Advisors LLC

Capital Investment Advisors LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 999 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accel Wealth Management bought a new stake in Constellation Brands during the second quarter worth approximately $234,000. City Holding Co. increased its holdings in shares of Constellation Brands by 2.4% in the second quarter. City Holding Co. now owns 13,081 shares of the company’s stock valued at $3,365,000 after buying an additional 305 shares in the last quarter. OLD National Bancorp IN increased its holdings in shares of Constellation Brands by 3.1% in the second quarter. OLD National Bancorp IN now owns 50,701 shares of the company’s stock valued at $13,044,000 after buying an additional 1,506 shares in the last quarter. CCM Investment Advisers LLC increased its holdings in shares of Constellation Brands by 2.4% in the second quarter. CCM Investment Advisers LLC now owns 33,055 shares of the company’s stock valued at $8,504,000 after buying an additional 784 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of Constellation Brands in the second quarter valued at $119,394,000. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on STZ shares. JPMorgan Chase & Co. upped their price target on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. UBS Group upped their price target on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 5th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Finally, Evercore ISI boosted their target price on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $300.28.

Constellation Brands Stock Up 0.6 %

Shares of Constellation Brands stock traded up $1.54 on Friday, hitting $241.41. 890,649 shares of the company traded hands, compared to its average volume of 1,202,049. The company has a market cap of $44.17 billion, a PE ratio of 17.99, a PEG ratio of 1.62 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The company has a 50-day moving average price of $251.70 and a 200 day moving average price of $254.18. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm 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%. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.91 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Buying and Selling

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s 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 directly owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s 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 sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. 12.19% of the stock is currently owned by corporate 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.