Harbour Investments Inc. Increases Position in Constellation Brands, Inc. (NYSE:STZ)

Harbour Investments Inc. grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,849 shares of the company’s stock after buying an additional 108 shares during the period. Harbour Investments Inc.’s holdings in Constellation Brands were worth $476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. acquired a new position in shares of Constellation Brands during the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands during the fourth quarter worth about $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 0.2 %

STZ stock opened at $240.37 on Thursday. The company’s 50 day simple moving average is $249.15 and its 200-day simple moving average is $253.82. The firm has a market capitalization of $43.98 billion, a PE ratio of 17.91, a P/E/G ratio of 1.62 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 earnings per share. Equities analysts expect 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 was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Truist Financial reiterated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Morgan Stanley lowered their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group upped 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. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $299.21.

Insider Activity at Constellation Brands

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 shares were 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the 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 in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,414 shares of company stock valued at $3,982,922. Company insiders own 12.19% of the company’s stock.

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.