Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 39.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,400 shares of the company’s stock after acquiring an additional 961 shares during the quarter. Independence Bank of Kentucky’s holdings in Constellation Brands were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after buying an additional 462,891 shares during the period. Capital International Investors grew its position 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 buying an additional 3,304,709 shares during the period. Capital World Investors grew its position in Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after buying an additional 723,549 shares during the period. Capital Research Global Investors grew its position in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after buying an additional 222,380 shares during the period. Finally, Legal & General Group Plc grew its position in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after buying an additional 72,637 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

NYSE:STZ opened at $241.06 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market cap of $44.11 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The firm’s 50 day moving average is $246.10 and its two-hundred day moving average is $252.53.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insiders Place Their Bets

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

STZ has been the topic of several recent analyst reports. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. 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. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $291.06.

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.