Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. grew its position in Constellation Brands, Inc. (NYSE:STZ) by 14.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,118 shares of the company’s stock after purchasing an additional 385 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Constellation Brands were worth $802,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the second quarter valued at about $32,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands during the 1st quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Constellation Brands in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STZ. Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. JPMorgan Chase & Co. cut 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 upped their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Roth Mkm dropped their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $297.12.

Constellation Brands Stock Down 0.9 %

Shares of NYSE:STZ opened at $252.47 on Wednesday. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The company’s fifty day moving average is $245.62 and its two-hundred day moving average is $253.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock has a market capitalization of $46.20 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Activity

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by company insiders.

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.