Stonegate Investment Group LLC Buys New Position in Constellation Brands, Inc. (NYSE:STZ)

Stonegate Investment Group LLC purchased a new position in Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,128 shares of the company’s stock, valued at approximately $291,000.

A number of other large investors have also modified their holdings of the business. New Millennium Group LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands in the second quarter valued at about $32,000. First Financial Corp IN purchased a new position in shares of Constellation Brands in the first quarter worth about $35,000. Finally, LRI Investments LLC acquired a new stake in shares of Constellation Brands during the first quarter worth about $37,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The shares were 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 of the company’s stock, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on 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 owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred 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 transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,221 shares of company stock valued at $33,007,175. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Evercore ISI reduced their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. Roth Mkm reiterated a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Finally, BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Stock Performance

NYSE:STZ opened at $241.52 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a market capitalization of $44.19 billion, a PE ratio of 18.00, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $227.64 and a fifty-two week high of $274.87. The company has a fifty day moving average of $246.51 and a two-hundred day moving average of $251.47.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

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.