Citizens Financial Group Inc. RI Purchases 7,665 Shares of Constellation Brands, Inc. (NYSE:STZ)

Citizens Financial Group Inc. RI boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,587 shares of the company’s stock after buying an additional 7,665 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Constellation Brands were worth $13,809,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands during the 2nd quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in Constellation Brands during the 2nd quarter worth about $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $239.72 on Thursday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The stock has a market cap of $43.52 billion, a PE ratio of 77.58, a price-to-earnings-growth ratio of 1.68 and a beta of 1.75. The stock’s fifty day simple moving average is $243.51 and its two-hundred day simple moving average is $247.73. 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 released its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STZ. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Bank of America restated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Barclays reduced their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Roth Mkm reissued a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and an average target price of $290.47.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by corporate insiders.

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.