Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Commerce Bank

Commerce Bank boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,450 shares of the company’s stock after buying an additional 3,665 shares during the quarter. Commerce Bank owned 0.09% of Constellation Brands worth $42,635,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the 2nd quarter worth $119,394,000. Capital International Sarl increased its position in shares of Constellation Brands by 35.9% in the 1st quarter. Capital International Sarl now owns 10,462 shares of the company’s stock worth $2,843,000 after purchasing an additional 2,764 shares during the last quarter. Swedbank AB bought a new stake in shares of Constellation Brands in the 1st quarter worth about $561,000. Cetera Advisors LLC increased its position in shares of Constellation Brands by 182.1% in the 1st quarter. Cetera Advisors LLC now owns 14,236 shares of the company’s stock worth $3,869,000 after purchasing an additional 9,190 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of Constellation Brands in the 3rd quarter worth about $2,132,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research report on Tuesday. UBS Group dropped their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Morgan Stanley dropped their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Buying and Selling

In other news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 189,296 shares of company stock valued at $45,899,031. Company insiders own 12.19% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $240.44 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $243.70 and a 200 day simple moving average of $247.79. The company has a market cap of $43.65 billion, a P/E ratio of 77.81, a P/E/G ratio of 1.68 and a beta of 0.90. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted 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. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.70 EPS. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors 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 dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

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.