Signature Estate & Investment Advisors LLC Acquires New Stake in Constellation Brands, Inc. (NYSE:STZ)

Signature Estate & Investment Advisors LLC acquired a new position in Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 8,275 shares of the company’s stock, valued at approximately $2,132,000.

Other large investors have also recently made changes to their positions in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter worth $32,000. LRI Investments LLC purchased a new stake in Constellation Brands in the 1st quarter valued at about $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter worth $36,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction on 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 $104,638,157.73. This trade represents a 21.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,210 shares of company stock worth $31,040,994. 12.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on STZ. Morgan Stanley decreased their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. UBS Group lowered their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Trading Up 0.5 %

Constellation Brands stock opened at $241.99 on Friday. The stock has a market cap of $43.94 billion, a PE ratio of 78.31, a P/E/G ratio of 1.70 and a beta of 0.90. 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 50-day moving average price of $244.49 and a 200 day moving average price of $248.30. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business 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 company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.70 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

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.