Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by First Long Island Investors LLC

First Long Island Investors LLC grew its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 46,810 shares of the company's stock after acquiring an additional 2,445 shares during the quarter. First Long Island Investors LLC's holdings in Constellation Brands were worth $12,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Portfolio Solutions LLC boosted its position in shares of Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company's stock valued at $999,000 after acquiring an additional 39 shares during the last quarter. Oakworth Capital Inc. lifted its position 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 buying an additional 42 shares during the last quarter. PFG Investments LLC lifted its position in Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company's stock worth $296,000 after buying an additional 42 shares during the last quarter. Brighton Jones LLC lifted its position in 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 buying an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in Constellation Brands by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company's stock worth $285,000 after buying an additional 44 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Down 1.9 %

Shares of Constellation Brands stock traded down $4.49 during trading on Friday, hitting $237.51. 1,425,616 shares of the stock traded hands, compared to its average volume of 1,203,183. The firm has a market cap of $43.12 billion, a P/E ratio of 77.63, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The stock's fifty day simple moving average is $244.36 and its 200 day simple moving average is $248.25.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict 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. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio is presently 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares of the company's stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STZ has been the subject of a number of analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Roth Mkm restated a "buy" rating and issued a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Finally, Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research note on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $290.47.

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.