MidFirst Bank Makes New $729,000 Investment in Constellation Brands Inc $STZ

MidFirst Bank acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,287 shares of the company’s stock, valued at approximately $729,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors boosted its stake in shares of Constellation Brands by 48.5% during the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after purchasing an additional 2,105,546 shares during the period. Norges Bank purchased a new stake in Constellation Brands in the 4th quarter worth about $267,798,000. Ameriprise Financial Inc. raised its position in Constellation Brands by 650.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock worth $287,889,000 after purchasing an additional 1,533,961 shares during the period. Wellington Management Group LLP lifted its stake in Constellation Brands by 14.0% in the fourth quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company’s stock worth $830,333,000 after purchasing an additional 739,393 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in Constellation Brands in the fourth quarter worth about $81,381,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on STZ. Citigroup reaffirmed a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $154.00 to $155.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Needham & Company LLC boosted their price objective on Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Friday, April 10th. Finally, Evercore set a $175.00 target price on Constellation Brands and gave the stock an “outperform” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $174.68.

Constellation Brands Price Performance

STZ opened at $141.25 on Friday. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.32 and a beta of 0.39. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.13. The business’s fifty day simple moving average is $148.95 and its 200-day simple moving average is $150.12.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $2.63 earnings per share. On average, equities research analysts anticipate that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands’s payout ratio is currently 42.96%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.