Constellation Brands, Inc. (NYSE:STZ) Stock Position Boosted by Cornerstone Capital Inc.

Cornerstone Capital Inc. lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 7.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,092 shares of the company's stock after purchasing an additional 3,585 shares during the period. Cornerstone Capital Inc.'s holdings in Constellation Brands were worth $13,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Constellation Brands during the second quarter worth about $119,394,000. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company's stock valued at $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Howland Capital Management LLC increased its holdings in shares of Constellation Brands by 3.0% in the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company's stock valued at $38,403,000 after purchasing an additional 4,051 shares during the period. Capital International Sarl raised its stake in shares of Constellation Brands by 35.9% during the first quarter. Capital International Sarl now owns 10,462 shares of the company's stock worth $2,843,000 after purchasing an additional 2,764 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Constellation Brands by 1.1% during the first quarter. Clearbridge Investments LLC now owns 503,058 shares of the company's stock worth $136,711,000 after purchasing an additional 5,302 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 1.1 %

Shares of STZ traded down $2.69 on Tuesday, hitting $237.05. 684,042 shares of the stock traded hands, compared to its average volume of 1,187,161. The firm has a market capitalization of $43.04 billion, a P/E ratio of 76.70, a P/E/G ratio of 1.64 and a beta of 0.90. 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 $231.70 and a 1 year high of $274.87. The stock's 50 day moving average is $245.36 and its two-hundred day moving average is $249.45.

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

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. 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 is currently 130.74%.

Insider Transactions at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company's stock, valued at $104,638,157.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on 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 completion of the sale, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,793 shares of company stock valued at $34,300,914 over the last 90 days. Corporate insiders own 12.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on STZ. Royal Bank of Canada restated an "outperform" rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Bank of America reaffirmed a "neutral" rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. JPMorgan Chase & Co. cut their target price on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research note on Monday, September 9th. Finally, Roth Mkm reissued a "buy" rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average target price of $290.47.

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.