Zurcher Kantonalbank Zurich Cantonalbank Purchases 9,154 Shares of Constellation Brands, Inc. (NYSE:STZ)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,025 shares of the company's stock after purchasing an additional 9,154 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Constellation Brands were worth $20,622,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in Constellation Brands during the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands during the second quarter worth $36,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STZ shares. Wells Fargo & Company cut their price target on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, November 19th. BNP Paribas initiated coverage on Constellation Brands in a research note on Monday, November 25th. They issued a "neutral" rating and a $261.00 price target for the company. Roth Mkm reaffirmed a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, TD Cowen lowered shares of Constellation Brands from a "buy" rating to a "hold" rating and reduced their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and an average target price of $289.16.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $4.98 on Friday, hitting $240.95. The company had a trading volume of 833,709 shares, compared to its average volume of 1,206,769. The company has a market cap of $43.75 billion, a PE ratio of 77.98, a PEG ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average of $241.72 and a 200 day moving average of $246.80.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly 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. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.70 EPS. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is currently 130.74%.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company's stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 in the last quarter. Insiders own 12.19% of the company's stock.

Constellation Brands Company 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.