Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 12.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 497,756 shares of the company’s stock after acquiring an additional 54,377 shares during the period. Clearbridge Investments LLC’s holdings in Constellation Brands were worth $120,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at $28,000. Asset Dedication LLC boosted its holdings in Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Constellation Brands in the fourth quarter valued at $37,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Constellation Brands in the third quarter valued at $41,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Constellation Brands in the fourth quarter valued at $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 over the last ninety days. 16.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Down 0.0 %

Shares of Constellation Brands stock traded down $0.09 during trading on Tuesday, hitting $250.47. 159,237 shares of the stock were exchanged, compared to its average volume of 1,184,069. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The firm’s 50-day moving average price is $262.11 and its 200 day moving average price is $250.68.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. Constellation Brands’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 earnings per share. As a group, analysts forecast that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. Constellation Brands’s payout ratio is 43.07%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on STZ shares. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a research note on Wednesday, April 10th. UBS Group increased their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Bank of America raised their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC raised their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, BMO Capital Markets raised their price target on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

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.