Pitcairn Co. Buys 1,901 Shares of Constellation Brands, Inc. (NYSE:STZ)

Pitcairn Co. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 36.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,052 shares of the company’s stock after purchasing an additional 1,901 shares during the quarter. Pitcairn Co.’s holdings in Constellation Brands were worth $1,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oakworth Capital Inc. lifted its holdings in Constellation Brands by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after buying an additional 42 shares during the period. PFG Investments LLC lifted its holdings in Constellation Brands by 3.8% in the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares during the period. Brighton Jones LLC lifted its stake in shares of Constellation Brands by 4.7% in the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake in shares of Constellation Brands by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after purchasing an additional 44 shares during the period. Finally, Burns Matteson Capital Management LLC lifted its stake in shares of Constellation Brands by 1.5% in the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,910 shares of the company’s stock valued at $749,000 after purchasing an additional 44 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 over the last 90 days. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 0.5 %

Constellation Brands stock opened at $239.66 on Friday. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.70 and a beta of 0.90. The stock has a fifty day simple moving average of $243.04 and a two-hundred day simple moving average of $247.49. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. 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 posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is currently 130.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on STZ shares. Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, November 19th. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley lowered their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Barclays lowered their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

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.