AMI Asset Management Corp Has $44.14 Million Position in Constellation Brands, Inc. (NYSE:STZ)

AMI Asset Management Corp trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.9% during the second quarter, HoldingsChannel reports. The fund owned 171,563 shares of the company’s stock after selling 3,293 shares during the quarter. Constellation Brands comprises 2.4% of AMI Asset Management Corp’s holdings, making the stock its 21st largest position. AMI Asset Management Corp’s holdings in Constellation Brands were worth $44,140,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new stake in Constellation Brands in the second quarter worth approximately $32,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands in the first quarter valued at approximately $35,000. Kapitalo Investimentos Ltda bought a new position in Constellation Brands during the fourth quarter worth $35,000. Finally, First Financial Corp IN acquired a new position in shares of Constellation Brands during the first quarter valued at about $35,000. 77.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a report on Wednesday, July 31st. UBS Group boosted their price target on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. lifted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $300.28.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares of the company’s stock, valued at $815,853.76. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last quarter. 12.19% of the stock is owned by insiders.

Constellation Brands Price Performance

Shares of STZ stock traded up $1.48 on Friday, reaching $245.18. The company’s stock had a trading volume of 637,081 shares, compared to its average volume of 1,175,121. The stock’s fifty day simple moving average is $250.01 and its 200-day simple moving average is $253.77. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 EPS. Analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced 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 1.65%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend 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.