Hartford Funds Management Co LLC Takes $258,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Hartford Funds Management Co LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZGet Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,123 shares of the company’s stock, valued at approximately $258,000. Constellation Brands accounts for 0.0% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. Hallmark Capital Management Inc. acquired a new position in Constellation Brands during the second quarter valued at approximately $26,000. Arlington Partners LLC bought a new stake in Constellation Brands during the 2nd quarter worth $33,000. Truvestments Capital LLC bought a new position in shares of Constellation Brands during the second quarter valued at $38,000. Jones Financial Companies Lllp increased its position in shares of Constellation Brands by 133.3% during the third quarter. Jones Financial Companies Lllp now owns 203 shares of the company’s stock worth $47,000 after buying an additional 116 shares during the period. Finally, Heritage Wealth Advisors lifted its stake in Constellation Brands by 53.3% in the second quarter. Heritage Wealth Advisors now owns 230 shares of the company’s stock valued at $54,000 after buying an additional 80 shares during the period. 84.87% of the stock is owned by institutional investors.

Constellation Brands Price Performance

NYSE STZ traded down $2.66 during trading hours on Wednesday, reaching $224.84. 154,784 shares of the stock traded hands, compared to its average volume of 2,262,987. The stock has a 50 day simple moving average of $236.60 and a two-hundred day simple moving average of $239.38. Constellation Brands, Inc. has a 1 year low of $207.59 and a 1 year high of $261.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.29 and a quick ratio of 0.63. The company has a market cap of $41.49 billion, a price-to-earnings ratio of 650.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.00.

Constellation Brands (NYSE:STZGet Rating) last announced its quarterly earnings data on Thursday, January 5th. The company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.05). Constellation Brands had a return on equity of 19.69% and a net margin of 0.98%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm posted $3.12 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Constellation Brands, Inc. will post 10.66 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 22nd. Shareholders of record on Wednesday, February 8th will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $3.20 annualized dividend and a yield of 1.42%. Constellation Brands’s payout ratio is currently 265.72%.

Insider Activity

In related news, Chairman Robert Sands sold 3,700,002 shares of Constellation Brands stock in a transaction on Monday, November 14th. The shares were sold at an average price of $239.06, for a total value of $884,522,478.12. Following the transaction, the chairman now directly owns 24,347,294 shares of the company’s stock, valued at $5,820,464,103.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Robert Sands sold 3,700,002 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $239.06, for a total value of $884,522,478.12. Following the sale, the chairman now directly owns 24,347,294 shares of the company’s stock, valued at $5,820,464,103.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2015 Business Holdings Lp Rht sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $239.06, for a total value of $239,060,000.00. Following the transaction, the insider now directly owns 350,000 shares of the company’s stock, valued at approximately $83,671,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,705,145 shares of company stock valued at $1,124,869,978. 16.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Credit Suisse Group cut their target price on Constellation Brands from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, January 6th. Cowen downgraded Constellation Brands from an “outperform” rating to a “market perform” rating and cut their price target for the company from $275.00 to $200.00 in a research note on Friday, January 6th. OTR Global raised Constellation Brands to a “positive” rating in a research note on Thursday, December 15th. Wedbush initiated coverage on Constellation Brands in a report on Monday, October 10th. They set an “outperform” rating and a $275.00 price target for the company. Finally, UBS Group dropped their price objective on Constellation Brands from $281.00 to $267.00 and set a “buy” rating on the stock in a research note on Friday, January 6th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.63.

Constellation Brands Profile

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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