Constellation Brands Inc (NYSE:STZ) Shares Purchased by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP boosted its position in shares of Constellation Brands Inc (NYSE:STZ) by 1.4% in the first quarter, HoldingsChannel.com reports. The fund owned 116,401 shares of the company’s stock after acquiring an additional 1,593 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Constellation Brands were worth $21,362,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $26,000. Minot DeBlois Advisors LLC acquired a new position in Constellation Brands in the 4th quarter worth approximately $29,000. Optiver Holding B.V. purchased a new position in Constellation Brands during the 4th quarter worth approximately $31,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Constellation Brands during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $166.35 on Wednesday. The company has a 50-day simple moving average of $177.93 and a 200-day simple moving average of $184.54. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.56. The company has a market cap of $29.61 billion, a PE ratio of -326.18, a price-to-earnings-growth ratio of 9.01 and a beta of 0.67. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $264.45.

Constellation Brands (NYSE:STZ) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.57 earnings per share. On average, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a $1.02 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands’s payout ratio is currently -800.00%.

Analysts Set New Price Targets

Several analysts have recently commented on STZ shares. Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. Wells Fargo & Company lowered their price target on shares of Constellation Brands from $210.00 to $196.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. BMO Capital Markets cut their price target on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Roth Capital decreased their price objective on Constellation Brands from $256.00 to $239.00 and set a “buy” rating for the company in a report on Tuesday, May 20th. Finally, CJS Securities lowered their target price on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.91.

Constellation Brands 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.