Brown Financial Advisors Buys New Stake in Constellation Brands, Inc. (NYSE:STZ)

Brown Financial Advisors purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,761 shares of the company’s stock, valued at approximately $710,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the second quarter valued at about $32,000. YHB Investment Advisors Inc. purchased a new stake in shares of Constellation Brands in the first quarter valued at about $35,000. Finally, First Financial Corp IN acquired a new position in shares of Constellation Brands during the first quarter worth about $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.0 %

Shares of STZ opened at $257.62 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $47.14 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.75. The company’s fifty day moving average is $246.61 and its two-hundred day moving average is $253.69. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (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 company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $2.91 earnings per share. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred 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 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 the SEC website. In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s 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 of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,414 shares of company stock valued at $3,982,922. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on STZ. Morgan Stanley dropped their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut their price target on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $297.12.

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.