Aviance Capital Partners LLC Purchases 116 Shares of Constellation Brands, Inc. (NYSE:STZ)

Aviance Capital Partners LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,343 shares of the company’s stock after buying an additional 116 shares during the quarter. Aviance Capital Partners LLC’s holdings in Constellation Brands were worth $4,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STZ. Morgan Stanley lifted its stake in shares of Constellation Brands by 1.5% during the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Constellation Brands by 12.9% during the 4th quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock worth $543,361,000 after purchasing an additional 256,738 shares during the last quarter. Norges Bank purchased a new stake in shares of Constellation Brands during the 4th quarter worth $443,844,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock worth $335,402,000 after purchasing an additional 388,390 shares during the last quarter. Finally, Darsana Capital Partners LP lifted its stake in shares of Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares in the company, valued at $442,270.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the transaction, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,031 shares of company stock valued at $12,582,321. Company insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STZ. Barclays decreased their price objective on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Finally, BMO Capital Markets increased their price target on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $298.37.

Constellation Brands Stock Performance

Shares of STZ stock traded up $1.63 during mid-day trading on Monday, reaching $258.91. The stock had a trading volume of 83,890 shares, compared to its average volume of 1,180,813. The firm has a market cap of $47.38 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.71 and a beta of 0.87. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The business’s fifty day moving average is $255.34 and its 200-day moving average is $253.76. 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 (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company earned $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Constellation Brands, Inc. will post 13.67 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

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.