Pinnacle Bancorp Inc. Takes $52,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Pinnacle Bancorp Inc. purchased a new position in Constellation Brands, Inc. (NYSE:STZ) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 191 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds have also recently made changes to their positions in STZ. Morgan Stanley boosted its stake in Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock worth $1,018,005,000 after purchasing an additional 58,518 shares during the period. Capital Research Global Investors increased its holdings in shares of Constellation Brands by 12.9% in the fourth quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock worth $543,361,000 after buying an additional 256,738 shares during the period. Norges Bank purchased a new position in shares of Constellation Brands in the fourth quarter worth $443,844,000. Charles Schwab Investment Management Inc. raised its holdings in Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares during the last quarter. Finally, Darsana Capital Partners LP raised its stake in shares of Constellation Brands by 288.9% during the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Up 0.5 %

Shares of STZ opened at $257.28 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock has a market capitalization of $47.08 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The business’s 50 day simple moving average is $255.34 and its 200-day simple moving average is $253.55.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.57%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

Insiders Place Their Bets

In other news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock valued at $12,582,321 over the last ninety days. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STZ. Bank of America raised their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday, May 28th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. Jefferies Financial Group lifted their price objective on Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI upped their price objective on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $298.37.

Constellation Brands 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.