Cohen Capital Management Inc. Acquires 798 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cohen Capital Management Inc. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.8% in the third quarter, Holdings Channel.com reports. The fund owned 46,093 shares of the company’s stock after acquiring an additional 798 shares during the quarter. Constellation Brands makes up about 1.9% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Cohen Capital Management Inc.’s holdings in Constellation Brands were worth $11,878,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in STZ. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors grew its holdings in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors lifted its stake in shares of Constellation Brands by 9.9% in 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 last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Constellation Brands by 5.7% in 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 last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

NYSE:STZ opened at $232.77 on Monday. The firm has a market capitalization of $42.26 billion, a PE ratio of 75.33, a price-to-earnings-growth ratio of 1.64 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12-month low of $231.70 and a 12-month high of $274.87. The firm has a 50-day moving average price of $245.43 and a 200 day moving average price of $249.59.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. Constellation Brands’s dividend payout ratio is presently 130.74%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STZ. Barclays dropped their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

Insider Activity

In related news, CFO Garth Hankinson sold 13,583 shares of the 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 completion of the sale, 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 document filed with the SEC, which is available through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,793 shares of company stock worth $34,300,914. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Company 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.