MQS Management LLC Takes $899,000 Position in Constellation Brands, Inc. (NYSE:STZ)

MQS Management LLC purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 3,487 shares of the company’s stock, valued at approximately $899,000. Constellation Brands accounts for approximately 0.5% of MQS Management LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in STZ. Capital International Investors raised its stake in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares in the last quarter. Capital World Investors grew its holdings in Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares during the period. International Assets Investment Management LLC raised its position in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after acquiring an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Constellation Brands in the second quarter valued at $119,394,000. Finally, Vanguard Group Inc. boosted its position in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STZ shares. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Morgan Stanley reduced their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Finally, UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,210 shares of company stock worth $31,040,994. 12.19% of the stock is owned by company insiders.

Constellation Brands Trading Up 0.9 %

Constellation Brands stock opened at $238.29 on Wednesday. The stock has a 50-day moving average price of $244.61 and a 200 day moving average price of $248.35. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The stock has a market cap of $43.26 billion, a PE ratio of 77.12, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given 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 (DPR) is presently 130.74%.

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.