Sei Investments Co. Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Sei Investments Co. grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,665 shares of the company’s stock after purchasing an additional 5,262 shares during the quarter. Sei Investments Co. owned approximately 0.10% of Constellation Brands worth $46,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Constellation Brands by 3.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,593 shares of the company’s stock valued at $5,462,000 after acquiring an additional 843 shares during the period. Commerce Bank grew its holdings in Constellation Brands by 5.6% during the fourth quarter. Commerce Bank now owns 14,011 shares of the company’s stock valued at $3,387,000 after purchasing an additional 742 shares during the period. SageView Advisory Group LLC increased its position in Constellation Brands by 7.8% in the fourth quarter. SageView Advisory Group LLC now owns 949 shares of the company’s stock worth $236,000 after buying an additional 69 shares during the last quarter. Intech Investment Management LLC increased its position in Constellation Brands by 34.1% in the fourth quarter. Intech Investment Management LLC now owns 16,445 shares of the company’s stock worth $3,976,000 after buying an additional 4,186 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake in shares of Constellation Brands by 155.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,264 shares of the company’s stock valued at $306,000 after buying an additional 770 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Barclays boosted their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday, September 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $296.29.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $248.09 on Monday. The stock’s 50-day moving average is $245.42 and its 200 day moving average is $253.98. The stock has a market cap of $45.39 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. 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 quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the firm posted $2.91 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal 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 given a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.63%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity

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 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. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Garth Hankinson sold 13,583 shares of the 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 sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by insiders.

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.