Cohen Capital Management Inc. Purchases 192 Shares of Constellation Brands, Inc. (NYSE:STZ)

Cohen Capital Management Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,323 shares of the company’s stock after purchasing an additional 192 shares during the period. Constellation Brands makes up approximately 2.2% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Cohen Capital Management Inc.’s holdings in Constellation Brands were worth $12,317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Capital Research Global Investors grew its stake in Constellation Brands by 12.9% in the fourth quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock worth $543,361,000 after purchasing an additional 256,738 shares in the last quarter. Norges Bank bought a new position in shares of Constellation Brands during the 4th quarter worth $443,844,000. Charles Schwab Investment Management Inc. increased its stake in shares of Constellation Brands by 38.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Constellation Brands by 0.6% in the fourth quarter. Wells Fargo & Company MN now owns 742,735 shares of the company’s stock valued at $179,556,000 after acquiring an additional 4,588 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Constellation Brands by 2.0% in the fourth quarter. California Public Employees Retirement System now owns 730,568 shares of the company’s stock worth $176,615,000 after acquiring an additional 14,481 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 2.5 %

STZ stock traded up $6.36 during midday trading on Thursday, hitting $259.44. 926,828 shares of the company’s stock were exchanged, compared to its average volume of 1,210,079. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The business has a 50-day simple moving average of $254.66 and a two-hundred day simple moving average of $254.59. The stock has a market capitalization of $47.47 billion, a PE ratio of 27.66, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 earnings per share. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.56%. Constellation Brands’s dividend payout ratio is currently 43.07%.

Wall Street Analyst Weigh In

A number of research analysts have commented on STZ shares. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a research report on Monday, April 15th. Roth Mkm reduced their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research note on Friday, July 5th. Evercore ISI upped their target price on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $300.11.

Insider Activity

In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of Constellation Brands stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is currently owned by corporate insiders.

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.