Constellation Brands, Inc. (NYSE:STZ) Stake Boosted by Assetmark Inc.

Assetmark Inc. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,609 shares of the company's stock after acquiring an additional 4,531 shares during the quarter. Assetmark Inc.'s holdings in Constellation Brands were worth $5,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC increased its stake in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company's stock worth $999,000 after buying an additional 39 shares during the period. Oakworth Capital Inc. boosted its holdings in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company's stock worth $255,000 after acquiring an additional 42 shares in the last quarter. PFG Investments LLC raised its position in Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company's stock valued at $296,000 after acquiring an additional 42 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company's stock worth $244,000 after acquiring an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of Constellation Brands by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company's stock valued at $285,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Up 0.9 %

STZ stock traded up $2.09 during midday trading on Tuesday, hitting $238.29. The stock had a trading volume of 1,488,230 shares, compared to its average volume of 1,202,972. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The business has a 50-day moving average of $244.78 and a two-hundred day moving average of $248.51. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The firm has a market cap of $43.26 billion, a price-to-earnings ratio of 76.49, a price-to-earnings-growth ratio of 1.65 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 EPS. The business's revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.70%. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on STZ shares. UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a report on Monday, September 9th. JPMorgan Chase & Co. lowered their price target on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating on the stock in a research report on Friday, October 4th. TD Cowen cut shares of Constellation Brands from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. BMO Capital Markets reduced their target price on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. Finally, Barclays lowered their price target on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $290.47.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares of the company's stock, valued at approximately $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company's stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,210 shares of company stock valued at $31,040,994 in the last ninety days. Insiders own 12.19% of the company's stock.

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.