EverSource Wealth Advisors LLC Acquires 200 Shares of Constellation Brands, Inc. (NYSE:STZ)

EverSource Wealth Advisors LLC lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,950 shares of the company’s stock after purchasing an additional 200 shares during the period. EverSource Wealth Advisors LLC’s holdings in Constellation Brands were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STZ. Cambridge Investment Research Advisors Inc. increased its position in Constellation Brands by 3.9% in 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 in the last quarter. Commerce Bank raised its position in Constellation Brands by 5.6% in the 4th quarter. Commerce Bank now owns 14,011 shares of the company’s stock worth $3,387,000 after purchasing an additional 742 shares during the last quarter. SageView Advisory Group LLC raised its position in Constellation Brands by 7.8% in the 4th quarter. SageView Advisory Group LLC now owns 949 shares of the company’s stock worth $236,000 after purchasing an additional 69 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Constellation Brands by 34.1% during the 4th 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 in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in Constellation Brands by 155.9% in the 4th 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 last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The stock was 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 in the company, valued at $706,266. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now 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 valued at $3,982,922 in the last 90 days. 12.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STZ has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Barclays raised their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Roth Mkm dropped their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.29.

Constellation Brands Trading Up 2.7 %

NYSE:STZ opened at $254.85 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The business’s 50-day simple moving average is $245.53 and its 200-day simple moving average is $253.98. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The stock has a market capitalization of $46.63 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is 30.10%.

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.