Dover Advisors LLC Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

Dover Advisors LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,844 shares of the company’s stock after buying an additional 307 shares during the quarter. Dover Advisors LLC’s holdings in Constellation Brands were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $32,000. Kapitalo Investimentos Ltda bought a new position in shares of Constellation Brands during the 4th quarter valued at approximately $35,000. Finally, First Financial Corp IN bought a new position in shares of Constellation Brands during the 1st quarter valued at approximately $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STZ shares. UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. 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. Barclays decreased their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, Morgan Stanley dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,947 shares of company stock valued at $4,098,736 in the last quarter. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Down 0.7 %

Shares of NYSE:STZ traded down $1.71 during trading on Tuesday, reaching $244.00. The stock had a trading volume of 1,302,878 shares, compared to its average volume of 1,188,232. The firm’s 50-day simple moving average is $246.28 and its 200 day simple moving average is $252.09. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a one year low of $227.64 and a one year high of $274.87. The company has a market capitalization of $44.65 billion, a P/E ratio of 18.24, a PEG ratio of 1.70 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.66%. Constellation Brands’s payout ratio is 30.10%.

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.