King Luther Capital Management Corp Acquires 156 Shares of Constellation Brands, Inc. (NYSE:STZ)

King Luther Capital Management Corp grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,411 shares of the company’s stock after acquiring an additional 156 shares during the period. King Luther Capital Management Corp’s holdings in Constellation Brands were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in Constellation Brands in the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Constellation Brands during the second quarter valued at $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the 2nd quarter worth $32,000. Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the second quarter valued at about $36,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.5 %

NYSE:STZ opened at $239.66 on Friday. The company has a market cap of $43.51 billion, a price-to-earnings ratio of 77.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. 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 stock has a fifty day simple moving average of $243.04 and a 200-day simple moving average of $247.49.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. Constellation Brands’s payout ratio is presently 130.74%.

Insider Activity

In other news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,956 shares of company stock worth $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the topic of a number of research analyst reports. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Evercore ISI lowered their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, November 19th. Roth Mkm reiterated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Barclays reduced 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.