MGO One Seven LLC Has $1.35 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

MGO One Seven LLC lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 113.2% in the second quarter, HoldingsChannel.com reports. The firm owned 5,230 shares of the company’s stock after acquiring an additional 2,777 shares during the period. MGO One Seven LLC’s holdings in Constellation Brands were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its holdings in Constellation Brands by 2.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 16,606 shares of the company’s stock valued at $4,272,000 after buying an additional 331 shares during the period. Daiwa Securities Group Inc. increased its stake in Constellation Brands by 10.4% in the second quarter. Daiwa Securities Group Inc. now owns 17,824 shares of the company’s stock valued at $4,586,000 after acquiring an additional 1,677 shares during the period. Chesapeake Capital Corp IL acquired a new position in Constellation Brands in the second quarter worth about $202,000. Royal London Asset Management Ltd. lifted its stake in Constellation Brands by 0.6% during the second quarter. Royal London Asset Management Ltd. now owns 64,530 shares of the company’s stock worth $16,602,000 after purchasing an additional 360 shares during the period. Finally, Liberty Wealth Management LLC acquired a new stake in Constellation Brands during the second quarter valued at approximately $10,903,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 1.2 %

Shares of NYSE STZ opened at $251.71 on Friday. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm’s 50-day moving average is $246.04 and its 200-day moving average is $253.77. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $46.06 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75.

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 analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.91 earnings per share. Equities analysts expect that Constellation Brands, Inc. will post 13.7 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend 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. Barclays increased their target price on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. 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, September 3rd. 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 report on Friday, July 5th. Truist Financial reissued a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, Roth Mkm decreased their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.78.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. In related 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 transaction of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

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.