Atomi Financial Group Inc. Increases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Atomi Financial Group Inc. raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.6% during the second quarter, Holdings Channel reports. The firm owned 992 shares of the company’s stock after buying an additional 103 shares during the quarter. Atomi Financial Group Inc.’s holdings in Constellation Brands were worth $255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of STZ. New Millennium Group LLC bought a new stake in Constellation Brands during the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands in the second quarter worth $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands in the second quarter worth $32,000. YHB Investment Advisors Inc. purchased a new position in Constellation Brands during the first quarter valued at $35,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Constellation Brands during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’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 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 approximately $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the subject of several recent research reports. Roth Mkm lowered their target price on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a report on Friday, July 5th. BMO Capital Markets reissued an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. UBS Group lifted their price target on Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $299.21.

Constellation Brands Stock Up 0.2 %

Constellation Brands stock opened at $240.37 on Thursday. The business has a 50 day simple moving average of $249.15 and a 200-day simple moving average of $253.82. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The stock has a market capitalization of $43.98 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.62 and a beta of 1.75. 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 posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 EPS. On average, analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

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.