State of Alaska Department of Revenue Purchases 245 Shares of Constellation Brands, Inc. (NYSE:STZ)

State of Alaska Department of Revenue increased its position in Constellation Brands, Inc. (NYSE:STZGet Rating) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,368 shares of the company’s stock after purchasing an additional 245 shares during the quarter. State of Alaska Department of Revenue’s holdings in Constellation Brands were worth $5,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stratos Wealth Advisors LLC raised its holdings in shares of Constellation Brands by 23.9% in the 1st quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company’s stock valued at $671,000 after purchasing an additional 561 shares during the period. Stratos Wealth Partners LTD. grew its stake in Constellation Brands by 2.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 11,103 shares of the company’s stock valued at $2,557,000 after buying an additional 244 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its stake in Constellation Brands by 0.3% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 101,075 shares of the company’s stock valued at $23,279,000 after buying an additional 293 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Constellation Brands by 1.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 36,511 shares of the company’s stock valued at $8,409,000 after buying an additional 424 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Constellation Brands by 15.8% in the 1st quarter. Victory Capital Management Inc. now owns 292,551 shares of the company’s stock valued at $68,229,000 after buying an additional 39,949 shares during the last quarter. 73.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STZ has been the topic of a number of research reports. UBS Group decreased their price target on shares of Constellation Brands from $285.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $248.00 to $240.00 and set a “hold” rating on the stock in a research note on Friday, July 1st. StockNews.com upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Redburn Partners assumed coverage on shares of Constellation Brands in a research report on Wednesday, July 13th. They set a “buy” rating on the stock. Finally, Barclays increased their target price on shares of Constellation Brands from $272.00 to $281.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.88.

Insider Activity at Constellation Brands

In related news, CFO Garth Hankinson sold 2,270 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $255.92, for a total value of $580,938.40. Following the completion of the transaction, the chief financial officer now owns 7,176 shares of the company’s stock, valued at approximately $1,836,481.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Robert Sands sold 1,427,799 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the transaction, the insider now owns 550,214 shares of the company’s stock, valued at approximately $133,597,461.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Garth Hankinson sold 2,270 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $255.92, for a total transaction of $580,938.40. Following the completion of the transaction, the chief financial officer now directly owns 7,176 shares of the company’s stock, valued at approximately $1,836,481.92. The disclosure for this sale can be found here. Insiders sold a total of 1,619,248 shares of company stock valued at $393,239,506 in the last quarter. Insiders own 16.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $241.62 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $44.65 billion, a price-to-earnings ratio of 36.50, a P/E/G ratio of 2.00 and a beta of 1.01. The firm’s 50 day simple moving average is $245.83 and its 200 day simple moving average is $241.15. Constellation Brands, Inc. has a 1 year low of $207.59 and a 1 year high of $261.52.

Constellation Brands (NYSE:STZGet Rating) last posted its quarterly earnings results on Thursday, June 30th. The company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.16 billion. Constellation Brands had a net margin of 12.72% and a return on equity of 17.19%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. As a group, research analysts expect that Constellation Brands, Inc. will post 11.09 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Tuesday, August 9th. Constellation Brands’s payout ratio is 14.05%.

Constellation Brands Company Profile

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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