HighVista Strategies LLC Acquires 200 Shares of Constellation Brands, Inc. (NYSE:STZ)

HighVista Strategies LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,600 shares of the company’s stock after purchasing an additional 200 shares during the quarter. HighVista Strategies LLC’s holdings in Constellation Brands were worth $1,183,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands in the second quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the second quarter worth about $32,000. YHB Investment Advisors Inc. purchased a new stake in shares of Constellation Brands in the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda bought a new position in Constellation Brands during the fourth quarter valued at approximately $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction 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 sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, September 17th. Jefferies Financial Group upped their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. 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 report on Monday, August 26th. Roth Mkm lowered their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $296.29.

Constellation Brands Price Performance

STZ opened at $248.09 on Monday. The firm has a market capitalization of $45.39 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The business’s 50-day moving average is $245.42 and its two-hundred day moving average is $253.98. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business posted $2.91 EPS. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

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.