Frank Rimerman Advisors LLC Takes $423,000 Position in Constellation Brands, Inc. (NYSE:STZ)

Frank Rimerman Advisors LLC acquired a new position in Constellation Brands, Inc. (NYSE:STZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,646 shares of the company’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STZ. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the 2nd quarter valued at $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands in the 1st quarter worth $35,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Constellation Brands in the fourth quarter valued at $35,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In related news, CFO Garth Hankinson sold 13,583 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. The sale 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 business’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 owns 11,702 shares of the company’s stock, valued at $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Trading Down 0.9 %

Constellation Brands stock opened at $252.47 on Wednesday. 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, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company’s fifty day simple moving average is $245.62 and its 200-day simple moving average is $253.94. The stock has a market cap of $46.20 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.91 EPS. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.60%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Constellation Brands from $295.00 to $309.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. UBS Group reduced their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $297.12.

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.