Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,567 shares of the company’s stock after acquiring an additional 359 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Constellation Brands were worth $1,947,000 at the end of the most recent reporting period.

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

Constellation Brands Price Performance

STZ opened at $252.85 on Wednesday. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The company has a 50 day moving average of $245.92 and a two-hundred day moving average of $253.96. The company has a market cap of $46.27 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.91 EPS. On average, analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Announces Dividend

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

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the business’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 transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on STZ. Roth Mkm reduced their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased 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 report on Tuesday, September 3rd. Jefferies Financial Group boosted their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Barclays raised their price objective on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Morgan Stanley dropped their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $296.78.

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.