Fox Hill Wealth Management Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Fox Hill Wealth Management bought a new position in Constellation Brands, Inc. (NYSE:STZ) in the 1st quarter, Holdings Channel reports. The fund bought 782 shares of the company’s stock, valued at approximately $213,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on STZ shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, May 28th. Barclays decreased their target price on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. UBS Group cut their target price on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $298.37.

Constellation Brands Stock Up 0.5 %

Shares of NYSE:STZ traded up $1.37 on Friday, reaching $257.28. The company 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 PE ratio of 27.43, a PEG ratio of 1.71 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The firm’s 50 day simple moving average is $255.34 and its 200-day simple moving average is $253.68.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business 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 company posted $1.98 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.57%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was 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 $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction 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 transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,031 shares of company stock valued at $12,582,321. 12.19% of the stock is owned by company insiders.

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 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.