Cornell Pochily Investment Advisors Inc. Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.9% in the third quarter, Holdings Channel.com reports. The fund owned 5,511 shares of the company’s stock after acquiring an additional 156 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Constellation Brands were worth $1,420,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in shares of Constellation Brands in the second quarter worth about $119,394,000. Vanguard Group Inc. increased its position in shares of 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 during the period. Howland Capital Management LLC raised its stake in shares of Constellation Brands by 3.0% during the first quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after acquiring an additional 4,051 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $958,000. Finally, Capital International Sarl boosted its holdings in shares of Constellation Brands by 35.9% in the first quarter. Capital International Sarl now owns 10,462 shares of the company’s stock valued at $2,843,000 after purchasing an additional 2,764 shares during the period. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of several research reports. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. 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 research note on Monday, October 7th. Barclays lowered their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $291.06.

Insiders Place Their Bets

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 value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 1.9 %

Constellation Brands stock opened at $245.71 on Tuesday. The business has a fifty day moving average price of $246.28 and a 200-day moving average price of $252.09. Constellation Brands, Inc. has a 1-year low of $227.64 and a 1-year high of $274.87. The stock has a market capitalization of $44.96 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

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

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. Constellation Brands’s payout ratio is 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.