Paladin Wealth LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Paladin Wealth LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, HoldingsChannel reports. The firm purchased 541 shares of the company’s stock, valued at approximately $139,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in 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 acquiring an additional 462,891 shares during the last quarter. Capital International Investors raised its holdings in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors raised its holdings in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the last quarter. Capital Research Global Investors grew its holdings in Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after acquiring an additional 222,380 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after acquiring an additional 72,637 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the business’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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Up 1.9 %

Constellation Brands stock opened at $245.71 on Tuesday. The company has a market capitalization of $44.96 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. 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, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The business’s fifty day simple moving average is $246.28 and its two-hundred day simple moving average is $252.09.

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

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date 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 currently 30.10%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STZ. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. UBS Group cut their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Bank of America restated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group raised their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.06.

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.