Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 81.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,736 shares of the company’s stock after acquiring an additional 23,264 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Constellation Brands were worth $12,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. Impact Partnership Wealth LLC raised its position in Constellation Brands by 1,175.0% during the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Constellation Brands during the fourth quarter worth about $28,000. Asset Dedication LLC raised its position in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after acquiring an additional 115 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in Constellation Brands during the fourth quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.19% of the stock is owned by insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $260.70 on Friday. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The firm has a 50 day moving average price of $258.19 and a 200 day moving average price of $247.29. The company has a market cap of $47.66 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands’s payout ratio is currently 37.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on STZ shares. UBS Group lifted their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Roth Mkm reissued a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research report on Friday, April 12th. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada boosted their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

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.