Cascade Investment Group Inc. Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Cascade Investment Group Inc. raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 31.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,041 shares of the company’s stock after purchasing an additional 252 shares during the period. Cascade Investment Group Inc.’s holdings in Constellation Brands were worth $268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC lifted its holdings in Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after purchasing an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Constellation Brands by 16.5% in the first quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock worth $79,000 after buying an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of Constellation Brands by 1.8% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock worth $569,000 after buying an additional 42 shares in the last quarter. Smithfield Trust Co lifted its stake in shares of Constellation Brands by 5.3% in the fourth quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after buying an additional 43 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its stake in shares of Constellation Brands by 1.6% in the fourth quarter. Copperwynd Financial LLC now owns 2,779 shares of the company’s stock worth $672,000 after buying an additional 43 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Up 0.8 %

Shares of STZ traded up $1.98 during trading on Wednesday, reaching $241.08. 611,748 shares of the company traded hands, compared to its average volume of 1,193,826. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The stock has a market cap of $44.11 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. The stock has a 50-day simple moving average of $251.26 and a 200-day simple moving average of $254.09. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $2.91 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,414 shares of company stock worth $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STZ. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Roth Mkm decreased their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. Finally, Jefferies Financial Group lifted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $300.28.

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.