Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Occidental Asset Management LLC

Occidental Asset Management LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 11,242 shares of the company’s stock after acquiring an additional 801 shares during the quarter. Occidental Asset Management LLC’s holdings in Constellation Brands were worth $3,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Morgan Stanley increased its stake in shares of Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after purchasing an additional 58,518 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Constellation Brands by 12.9% in the 4th quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock valued at $543,361,000 after purchasing an additional 256,738 shares in the last quarter. Norges Bank purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $443,844,000. Charles Schwab Investment Management Inc. increased its stake in shares of Constellation Brands by 38.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after purchasing an additional 388,390 shares in the last quarter. Finally, Darsana Capital Partners LP increased its stake in shares of Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after purchasing an additional 650,000 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. UBS Group cut their price objective on Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Jefferies Financial Group boosted their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Barclays cut their price objective on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Finally, HSBC boosted their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $298.37.

Constellation Brands Trading Up 0.5 %

NYSE STZ traded up $1.37 on Friday, reaching $257.28. The stock had a trading volume of 1,518,776 shares, compared to its average volume of 1,102,593. The firm has a market capitalization of $47.08 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The stock has a fifty day moving average price of $255.34 and a two-hundred day moving average price of $253.55.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company earned $1.98 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a dividend of $1.01 per share. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 43.07%.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is currently owned by company 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.