Dillon & Associates Inc. Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

Dillon & Associates Inc. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,664 shares of the company’s stock after purchasing an additional 551 shares during the quarter. Constellation Brands comprises approximately 1.5% of Dillon & Associates Inc.’s portfolio, making the stock its 23rd largest holding. Dillon & Associates Inc.’s holdings in Constellation Brands were worth $11,007,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STZ. WealthPlan Investment Management LLC lifted its position in Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares during the period. Entropy Technologies LP purchased a new stake in shares of Constellation Brands during the third quarter worth approximately $1,633,000. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Constellation Brands by 37.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,366 shares of the company’s stock worth $352,000 after purchasing an additional 370 shares during the period. Jupiter Wealth Management LLC grew its position in Constellation Brands by 51.5% in the 3rd quarter. Jupiter Wealth Management LLC now owns 3,408 shares of the company’s stock valued at $878,000 after buying an additional 1,158 shares during the last quarter. Finally, Delta Financial Advisors LLC raised its position in Constellation Brands by 3.6% during the 3rd quarter. Delta Financial Advisors LLC now owns 4,933 shares of the company’s stock worth $1,271,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.9 %

NYSE:STZ opened at $238.29 on Wednesday. The business’s 50-day moving average price is $244.78 and its two-hundred day moving average price is $248.51. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The firm has a market capitalization of $43.26 billion, a price-to-earnings ratio of 77.12, a PEG ratio of 1.67 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.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $3.70 earnings per share. On average, equities analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the business’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 sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,210 shares of company stock valued at $31,040,994. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STZ. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Barclays decreased their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. UBS Group decreased their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $290.47.

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.