NFJ Investment Group LLC Increases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

NFJ Investment Group LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 617.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,382 shares of the company’s stock after purchasing an additional 93,273 shares during the period. NFJ Investment Group LLC owned approximately 0.06% of Constellation Brands worth $27,929,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp of Ontario boosted its position in shares of Constellation Brands by 45.3% during the third quarter. Investment Management Corp of Ontario now owns 5,455 shares of the company’s stock valued at $1,406,000 after purchasing an additional 1,700 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Constellation Brands by 1.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Constellation Brands by 3.5% in the 3rd quarter. HighTower Advisors LLC now owns 237,688 shares of the company’s stock worth $61,313,000 after buying an additional 8,137 shares during the period. Hilltop Holdings Inc. bought a new position in shares of Constellation Brands in the 3rd quarter worth about $205,000. Finally, Benjamin Edwards Inc. lifted its position in Constellation Brands by 206.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,763 shares of the company’s stock valued at $1,228,000 after acquiring an additional 3,209 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 0.0 %

NYSE:STZ traded down $0.09 during mid-day trading on Tuesday, reaching $237.67. The company’s stock had a trading volume of 64,356 shares, compared to its average volume of 1,201,901. The company’s fifty day simple moving average is $241.72 and its two-hundred day simple moving average is $246.71. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The stock has a market cap of $43.15 billion, a P/E ratio of 76.94, a P/E/G ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’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, equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. BNP Paribas began coverage on Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Finally, Bank of America reiterated 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. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

Insider Activity

In related news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at $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 available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by 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.