Prime Capital Investment Advisors LLC Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Prime Capital Investment Advisors LLC grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 20,116 shares of the company’s stock after acquiring an additional 501 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Constellation Brands were worth $5,176,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Norges Bank bought a new position in shares of Constellation Brands in the 4th quarter worth about $443,844,000. Capital World Investors increased its stake in shares of Constellation Brands by 8.7% in the 1st 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 in the last quarter. Manning & Napier Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter valued at about $119,394,000. Finally, Vanguard Group Inc. boosted its stake in Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 in the last quarter. Company insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Morgan Stanley dropped their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. UBS Group reduced their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $296.78.

Constellation Brands Trading Up 0.3 %

Shares of STZ stock opened at $252.57 on Monday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12-month low of $227.50 and a 12-month high of $274.87. The stock has a market capitalization of $46.21 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.69 and a beta of 1.75. The firm’s 50 day moving average is $245.91 and its 200 day moving average is $253.90.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $2.91 EPS. Research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

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.