Chesapeake Capital Corp IL Invests $202,000 in Constellation Brands, Inc. (NYSE:STZ)

Chesapeake Capital Corp IL acquired a new position in Constellation Brands, Inc. (NYSE:STZ) in the second quarter, Holdings Channel.com reports. The firm acquired 786 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Capital International Investors lifted its stake in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors raised its position in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the period. Finally, Norges Bank purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $443,844,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $249.49 on Wednesday. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock has a market cap of $45.46 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.67 and a beta of 0.88. The stock’s fifty day moving average is $246.05 and its 200 day moving average is $253.82.

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

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.62%. Constellation Brands’s payout ratio is presently 30.10%.

Insiders Place Their Bets

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The sale was disclosed in a legal filing 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 dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

Several research firms recently weighed in on STZ. Roth Mkm cut their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Barclays upped their price target on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, September 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Finally, Morgan Stanley cut their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands 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.