Bahl & Gaynor Inc. Has $1.06 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Bahl & Gaynor Inc. cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,135 shares of the company’s stock after selling 1,224 shares during the period. Bahl & Gaynor Inc.’s holdings in Constellation Brands were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Capital International Investors grew its position in shares of Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors increased its stake in shares of Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Constellation Brands by 9.9% in the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after acquiring an additional 222,380 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $443,844,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’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 completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,414 shares of company stock worth $3,982,922. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 1.2 %

STZ stock opened at $251.71 on Friday. The company has a market cap of $46.06 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The business has a 50 day moving average price of $246.04 and a two-hundred day moving average price of $253.77. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the business earned $2.91 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Analysts anticipate that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s payout ratio is 30.10%.

Analysts Set New Price Targets

Several brokerages have commented on STZ. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, September 3rd. Roth Mkm decreased their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. UBS Group dropped their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Morgan Stanley decreased their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $296.78.

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.