Exchange Traded Concepts LLC Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

Exchange Traded Concepts LLC raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 751.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,200 shares of the company’s stock after purchasing an additional 1,059 shares during the period. Exchange Traded Concepts LLC’s holdings in Constellation Brands were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. New Millennium Group LLC bought a new stake in Constellation Brands in the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands in the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the 2nd quarter worth about $32,000. First Financial Corp IN bought a new position in Constellation Brands during the 1st quarter valued at about $35,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Constellation Brands in the 2nd quarter worth about $36,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STZ. Evercore ISI dropped their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. BMO Capital Markets reduced their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Roth Mkm reissued a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Barclays reduced their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Price Performance

STZ opened at $241.52 on Friday. The firm has a market capitalization of $44.19 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The business’s 50-day moving average is $246.51 and its two-hundred day moving average is $251.47. Constellation Brands, Inc. has a 1 year low of $227.64 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.70 EPS. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.67%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on 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 of the company’s stock, valued at $2,808,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,221 shares of company stock valued at $33,007,175 in the last ninety days. Corporate insiders own 12.19% of the company’s stock.

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.