Oppenheimer & Co. Inc. Grows Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Oppenheimer & Co. Inc. grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,481 shares of the company’s stock after purchasing an additional 1,096 shares during the period. Oppenheimer & Co. Inc.’s holdings in Constellation Brands were worth $2,439,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Constellation Brands by 3.5% during the 1st 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 last quarter. Capital International Investors boosted its stake in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors grew its holdings in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after acquiring an additional 723,549 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after purchasing an additional 222,380 shares during the last quarter. Finally, Norges Bank acquired a new position in Constellation Brands in the fourth quarter worth about $443,844,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands 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 transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction 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 owns 11,702 shares in the company, valued at approximately $2,808,480. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 over the last ninety days. Company insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group cut their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Morgan Stanley decreased their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Roth Mkm lowered their target price on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, September 3rd. Finally, Barclays boosted their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $296.78.

Constellation Brands Stock Up 0.4 %

Shares of Constellation Brands stock opened at $253.53 on Tuesday. 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, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The business’s fifty day moving average price is $245.91 and its two-hundred day moving average price is $253.94. The company has a market capitalization of $46.39 billion, a P/E ratio of 18.89, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. The business 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 company’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.91 earnings per share. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Announces Dividend

The business 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. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. Constellation Brands’s dividend payout ratio is presently 30.10%.

About Constellation Brands

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.