First Long Island Investors LLC Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

First Long Island Investors LLC grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,320 shares of the company’s stock after purchasing an additional 265 shares during the quarter. First Long Island Investors LLC’s holdings in Constellation Brands were worth $6,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of STZ. Norges Bank bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $443,844,000. Boston Partners bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $156,358,000. International Assets Investment Management LLC raised its position in shares of Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after purchasing an additional 564,744 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Constellation Brands by 38.3% in 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 purchasing an additional 388,390 shares during the period. Finally, Palestra Capital Management LLC bought a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $83,195,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 2.5 %

Shares of STZ traded up $6.36 during mid-day trading on Thursday, reaching $259.44. The company’s stock had a trading volume of 926,828 shares, compared to its average volume of 1,210,079. The stock has a market cap 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, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company’s fifty day moving average price is $254.66 and its two-hundred day moving average price is $254.59.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm 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%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.91 EPS. On average, analysts predict that Constellation Brands, Inc. will post 13.7 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. Constellation Brands’s payout ratio is 43.07%.

Insider Transactions at Constellation Brands

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

Analysts Set New Price Targets

STZ has been the topic of several research reports. HSBC boosted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, July 5th. UBS Group boosted their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $300.11.

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.