Miracle Mile Advisors LLC Makes New $4.24 Million Investment in Constellation Brands, Inc. (NYSE:STZ)

Miracle Mile Advisors LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,180 shares of the company's stock, valued at approximately $4,239,000.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. State Street Corp raised its position in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock worth $1,841,048,000 after buying an additional 402,211 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock valued at $257,865,000 after buying an additional 241,982 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Constellation Brands by 66.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company's stock worth $81,762,000 after buying an additional 147,457 shares in the last quarter. Finally, NFJ Investment Group LLC increased its stake in Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company's stock worth $27,929,000 after acquiring an additional 93,273 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Transactions at Constellation Brands

In other news, Director Robert Sands sold 119,274 shares of the company's 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 $104,638,157.73. This represents a 21.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,446 shares of company stock valued at $45,687,281. Company insiders own 12.19% of the company's stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent analyst reports. TD Cowen cut their price objective on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Bank of America reissued a "neutral" rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Argus cut shares of Constellation Brands from a "buy" rating to a "hold" rating in a research report on Tuesday. BMO Capital Markets cut 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 report on Tuesday, October 15th. Finally, Barclays lowered their price target on Constellation Brands from $282.00 to $214.00 and set an "overweight" rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $261.40.

Constellation Brands Trading Down 2.0 %

Shares of NYSE STZ traded down $3.73 during trading hours on Tuesday, hitting $182.18. The company's stock had a trading volume of 3,354,840 shares, compared to its average volume of 3,271,273. Constellation Brands, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The business has a 50-day simple moving average of $229.71 and a 200-day simple moving average of $240.26.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. On average, analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.22%. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

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.