Elo Mutual Pension Insurance Co Has $2.99 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Elo Mutual Pension Insurance Co increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,254 shares of the company’s stock after buying an additional 919 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Constellation Brands were worth $2,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AXS Investments LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth approximately $26,000. Zions Bancorporation N.A. raised its stake in shares of Constellation Brands by 135.6% during the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock worth $32,000 after buying an additional 80 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth approximately $34,000. Ridgewood Investments LLC bought a new stake in shares of Constellation Brands during the first quarter worth approximately $37,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Constellation Brands by 83.2% during the first quarter. Jones Financial Companies Lllp now owns 174 shares of the company’s stock worth $39,000 after buying an additional 79 shares during the last quarter. 88.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup increased their target price on shares of Constellation Brands from $265.00 to $280.00 in a report on Wednesday, June 21st. Wedbush lifted their target price on Constellation Brands from $255.00 to $270.00 in a report on Wednesday, July 5th. BMO Capital Markets lifted their target price on Constellation Brands from $265.00 to $290.00 and gave the stock an “outperform” rating in a report on Monday, July 3rd. Morgan Stanley lifted their target price on Constellation Brands from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Finally, Jefferies Financial Group lifted their target price on Constellation Brands from $293.00 to $300.00 in a report on Tuesday, June 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $266.24.

Constellation Brands Price Performance

Constellation Brands stock opened at $259.46 on Friday. Constellation Brands, Inc. has a 52 week low of $208.12 and a 52 week high of $273.65. The company’s 50 day moving average price is $260.53 and its two-hundred day moving average price is $239.55. The company has a quick ratio of 0.53, a current ratio of 1.14 and a debt-to-equity ratio of 1.23. The stock has a market cap of $47.57 billion, a P/E ratio of -141.78, a P/E/G ratio of 1.97 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, June 30th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.08. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Constellation Brands had a negative net margin of 3.14% and a positive return on equity of 22.32%. Constellation Brands’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.66 EPS. On average, equities analysts predict that Constellation Brands, Inc. will post 11.62 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were issued a $0.89 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.37%. Constellation Brands’s dividend payout ratio (DPR) is presently -194.54%.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the sale, the chief executive officer now owns 9,316 shares of the company’s stock, valued at approximately $2,495,756.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the sale, the chief executive officer now owns 9,316 shares of the company’s stock, valued at approximately $2,495,756.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James O. Bourdeau sold 30,723 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $269.00, for a total transaction of $8,264,487.00. Following the sale, the executive vice president now directly owns 5,500 shares in the company, valued at approximately $1,479,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,819 shares of company stock valued at $27,054,755. 16.19% of the stock is owned by company insiders.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.