King Luther Capital Management Corp Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

King Luther Capital Management Corp grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 14.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,255 shares of the company’s stock after buying an additional 155 shares during the period. King Luther Capital Management Corp’s holdings in Constellation Brands were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Capital International Investors boosted its holdings in shares of Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares during the period. Capital World Investors increased its position in shares of Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Capital Research Global Investors raised its holdings in Constellation Brands by 9.9% during the 1st quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after buying an additional 222,380 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

STZ stock opened at $248.09 on Monday. 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 has a 50-day moving average price of $245.42 and a 200 day moving average price of $253.98. The company has a market capitalization of $45.39 billion, a P/E ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.91 EPS. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared 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 of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Activity

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s 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 completion of the transaction, the executive vice president now owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a report on Tuesday, September 17th. 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 research note on Monday, August 26th. Roth Mkm cut their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $296.29.

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.