South Street Advisors LLC Acquires 57 Shares of Constellation Brands, Inc. (NYSE:STZ)

South Street Advisors LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 49,704 shares of the company’s stock after purchasing an additional 57 shares during the period. Constellation Brands makes up approximately 1.9% of South Street Advisors LLC’s investment portfolio, making the stock its 25th biggest position. South Street Advisors LLC’s holdings in Constellation Brands were worth $12,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands during the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands during the 1st quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $35,000. Institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred 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 of the company’s stock, valued at $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction on 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 approximately $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 over the last three months. Company insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STZ shares. Jefferies Financial Group increased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, September 3rd. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley dropped their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, Roth Mkm lowered their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Price Performance

STZ stock opened at $249.49 on Wednesday. The company has a market capitalization of $45.46 billion, a PE ratio of 18.59, a P/E/G ratio of 1.67 and a beta of 0.88. The stock’s 50 day moving average is $246.05 and its two-hundred day moving average is $253.82. 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, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that Constellation Brands, Inc. will post 13.7 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is presently 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.