Occidental Asset Management LLC Has $2.48 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Occidental Asset Management LLC increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,063 shares of the company’s stock after purchasing an additional 561 shares during the period. Occidental Asset Management LLC’s holdings in Constellation Brands were worth $2,477,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System grew its stake in Constellation Brands by 0.9% during the first quarter. State of Michigan Retirement System now owns 44,558 shares of the company’s stock worth $10,065,000 after purchasing an additional 400 shares during the period. Old North State Trust LLC grew its stake in Constellation Brands by 3,290.0% in the first quarter. Old North State Trust LLC now owns 678 shares of the company’s stock valued at $27,000 after acquiring an additional 658 shares during the period. Maryland State Retirement & Pension System grew its stake in Constellation Brands by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 11,987 shares of the company’s stock valued at $2,708,000 after acquiring an additional 219 shares during the period. ST Germain D J Co. Inc. grew its stake in Constellation Brands by 105.4% in the fourth quarter. ST Germain D J Co. Inc. now owns 38,512 shares of the company’s stock valued at $4,467,000 after acquiring an additional 19,766 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd grew its stake in Constellation Brands by 70.4% in the first quarter. ICICI Prudential Asset Management Co Ltd now owns 15,863 shares of the company’s stock valued at $3,574,000 after acquiring an additional 6,553 shares during the period. Institutional investors and hedge funds own 88.99% of the company’s stock.

Constellation Brands Trading Down 0.3 %

STZ stock traded down $0.78 during trading on Monday, hitting $259.56. 124,075 shares of the company traded hands, compared to its average volume of 1,179,748. Constellation Brands, Inc. has a 1 year low of $208.12 and a 1 year high of $273.65. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. The company has a 50-day moving average of $262.87 and a 200-day moving average of $242.25. The firm has a market capitalization of $47.58 billion, a PE ratio of -142.26, a P/E/G ratio of 1.96 and a beta of 1.04.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.08. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $2.66 EPS. Analysts predict that Constellation Brands, Inc. will post 11.59 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Insider Activity at Constellation Brands

In related news, EVP Robert Lee Hanson sold 12,299 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $268.10, for a total transaction of $3,297,361.90. Following the completion of the transaction, the executive vice president now owns 11,862 shares of the company’s stock, valued at approximately $3,180,202.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP James O. Bourdeau sold 30,723 shares of Constellation Brands stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $269.00, for a total value of $8,264,487.00. Following the completion of the sale, the executive vice president now owns 5,500 shares of the company’s stock, valued at $1,479,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Lee Hanson sold 12,299 shares of Constellation Brands stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $268.10, for a total value of $3,297,361.90. Following the completion of the sale, the executive vice president now directly owns 11,862 shares of the company’s stock, valued at approximately $3,180,202.20. The disclosure for this sale can be found here. Insiders sold a total of 100,819 shares of company stock valued at $27,054,755 in the last 90 days. Corporate insiders own 16.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on STZ shares. StockNews.com began coverage on Constellation Brands in a research note on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet cut Constellation Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, September 5th. Wells Fargo & Company lifted their price target on Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $295.00 price target on shares of Constellation Brands in a report on Friday. Finally, TD Cowen upgraded Constellation Brands from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $240.00 to $300.00 in a report on Wednesday, September 6th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $270.05.

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