ING Groep NV Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

ING Groep NV increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 387.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,955 shares of the company's stock after purchasing an additional 72,291 shares during the quarter. ING Groep NV owned 0.05% of Constellation Brands worth $23,438,000 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 business. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter worth about $32,000. LRI Investments LLC purchased a new position in shares of Constellation Brands in the first quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction 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 trade represents a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business's 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 transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,296 shares of company stock valued at $45,899,031. Insiders own 12.19% of the company's stock.

Constellation Brands Stock Performance

STZ traded down $4.49 on Friday, reaching $237.51. The company had a trading volume of 1,425,616 shares, compared to its average volume of 1,203,183. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The stock has a market capitalization of $43.12 billion, a PE ratio of 77.63, a P/E/G ratio of 1.70 and a beta of 0.90. The stock has a 50-day moving average price of $244.36 and a 200-day moving average price of $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 for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.70 EPS. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STZ shares. Bank of America reiterated a "neutral" rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. TD Cowen lowered Constellation Brands from a "buy" rating to a "hold" rating and decreased their target price for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Morgan Stanley lowered their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and an average price target 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.