Constellation Brands, Inc. (NYSE:STZ) Shares Bought by FORA Capital LLC

FORA Capital LLC raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 365.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,929 shares of the company’s stock after acquiring an additional 14,863 shares during the quarter. FORA Capital LLC’s holdings in Constellation Brands were worth $4,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc raised its stake in Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after purchasing an additional 72,637 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares in the last quarter. Boston Partners raised its position in shares of Constellation Brands by 50.9% in the first quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after buying an additional 328,881 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Constellation Brands in the second quarter worth about $119,394,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.9 %

Constellation Brands stock traded up $2.07 during trading on Wednesday, hitting $235.67. The company had a trading volume of 124,749 shares, compared to its average volume of 1,204,175. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of 75.62, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. 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 1-year low of $224.76 and a 1-year high of $274.87. The company’s 50 day simple moving average is $242.42 and its 200-day simple moving average is $247.08.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. 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 report on Monday, August 26th. Wells Fargo & Company cut their price target on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday. Evercore ISI lowered their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $289.16.

About Constellation Brands

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.