Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Greystone Financial Group LLC

Greystone Financial Group LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 15.8% during the 2nd quarter, Holdings Channel reports. The firm owned 2,831 shares of the company’s stock after buying an additional 387 shares during the period. Greystone Financial Group LLC’s holdings in Constellation Brands were worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Stifel Financial Corp increased its position in Constellation Brands by 3.2% during the fourth quarter. Stifel Financial Corp now owns 192,585 shares of the company’s stock worth $46,570,000 after buying an additional 5,951 shares in the last quarter. KBC Group NV raised its stake in Constellation Brands by 100.4% in the 4th quarter. KBC Group NV now owns 250,945 shares of the company’s stock valued at $60,666,000 after purchasing an additional 125,730 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Constellation Brands in the 2nd quarter valued at about $119,394,000. Vanguard Group Inc. lifted its holdings in 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 in the last quarter. Finally, Howland Capital Management LLC boosted its stake in shares of Constellation Brands by 3.0% during the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after purchasing an additional 4,051 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 0.3 %

Constellation Brands stock traded up $0.72 during midday trading on Friday, hitting $249.01. 1,171,782 shares of the stock were exchanged, compared to its average volume of 1,176,895. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. 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 firm has a market cap of $45.56 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.59 and a beta of 1.75. The company has a 50 day moving average price of $246.35 and a two-hundred day moving average price of $253.65.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the business posted $2.91 earnings per share. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.54 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were issued a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.62%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 in the last ninety days. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group upped their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $298.17.

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.