GAMMA Investing LLC Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

GAMMA Investing LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 30.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,339 shares of the company’s stock after buying an additional 1,235 shares during the period. GAMMA Investing LLC’s holdings in Constellation Brands were worth $1,374,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. YHB Investment Advisors Inc. bought a new stake in Constellation Brands during the 1st quarter valued at approximately $35,000. Kapitalo Investimentos Ltda bought a new stake in Constellation Brands during the 4th quarter valued at approximately $35,000. First Financial Corp IN bought a new stake in Constellation Brands during the 1st quarter valued at approximately $35,000. Turtle Creek Wealth Advisors LLC bought a new stake in Constellation Brands during the 4th quarter valued at approximately $37,000. Finally, LRI Investments LLC bought a new stake in Constellation Brands during the 1st quarter valued at approximately $37,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders sold a total of 27,831 shares of company stock worth $7,261,502 in the last quarter. 12.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on STZ shares. Barclays lifted their target price on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Evercore ISI lifted their target price on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Wednesday. Finally, 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. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $300.28.

Constellation Brands Trading Up 0.6 %

Shares of NYSE STZ traded up $1.57 during trading hours on Friday, hitting $246.94. 1,409,592 shares of the company traded hands, compared to its average volume of 1,198,954. The stock has a market capitalization of $45.00 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average price is $252.51 and its 200 day moving average price is $254.70. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87.

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

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend 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.