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

Transcend Capital Advisors LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 31.2% in the second quarter, Holdings Channel reports. The fund owned 3,412 shares of the company’s stock after purchasing an additional 812 shares during the period. Transcend Capital Advisors LLC’s holdings in Constellation Brands were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in STZ. Trust Point Inc. purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $454,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $172,000. SteelPeak Wealth LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth approximately $1,073,000. International Assets Investment Management LLC raised its stake in shares of Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock worth $137,075,000 after buying an additional 564,744 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of Constellation Brands by 9.1% during the 4th quarter. Arkadios Wealth Advisors now owns 1,265 shares of the company’s stock worth $306,000 after buying an additional 105 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,831 shares of company stock worth $7,261,502. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the subject of several research analyst reports. HSBC raised their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. UBS Group raised their price objective on Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, July 5th. 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. Deutsche Bank Aktiengesellschaft raised their price objective on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average target price of $300.28.

Constellation Brands Trading Down 3.6 %

Shares of STZ stock traded down $8.95 during mid-day trading on Monday, hitting $237.99. 652,509 shares of the company’s stock were exchanged, compared to its average volume of 1,201,863. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The stock has a 50-day simple moving average of $252.51 and a two-hundred day simple moving average of $254.70. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The stock has a market cap of $43.37 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.62 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the firm earned $2.91 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

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.