Forsta AP Fonden Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Forsta AP Fonden increased its position in Constellation Brands, Inc. (NYSE:STZ) by 11.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,400 shares of the company’s stock after buying an additional 3,700 shares during the quarter. Forsta AP Fonden’s holdings in Constellation Brands were worth $9,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Orion Portfolio Solutions LLC grew its position in shares of Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after purchasing an additional 39 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Constellation Brands by 16.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after buying an additional 41 shares in the last quarter. Oakworth Capital Inc. raised its position in shares of Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after buying an additional 42 shares during the last quarter. Brighton Jones LLC raised its position in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in shares of Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock worth $285,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.6 %

Shares of STZ opened at $239.38 on Monday. The company’s fifty day simple moving average is $246.34 and its 200-day simple moving average is $250.50. The company has a market cap of $43.80 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a twelve month low of $227.64 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company posted $3.70 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is currently 30.10%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STZ. Bank of America reaffirmed a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. BMO Capital Markets reduced their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,367 shares of company stock valued at $32,539,170 in the last quarter. 12.19% of the stock is owned by insiders.

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.