Park Avenue Securities LLC Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Park Avenue Securities LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 23.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,362 shares of the company’s stock after buying an additional 824 shares during the period. Park Avenue Securities LLC’s holdings in Constellation Brands were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Czech National Bank grew its position in Constellation Brands by 4.0% in the third quarter. Czech National Bank now owns 31,918 shares of the company’s stock worth $8,225,000 after acquiring an additional 1,239 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Constellation Brands by 5.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 52,589 shares of the company’s stock valued at $13,552,000 after purchasing an additional 2,620 shares during the last quarter. Weybosset Research & Management LLC increased its position in shares of Constellation Brands by 12.1% during the 3rd quarter. Weybosset Research & Management LLC now owns 925 shares of the company’s stock valued at $238,000 after purchasing an additional 100 shares during the last quarter. Appleton Partners Inc. MA raised its holdings in Constellation Brands by 1.7% during the 3rd quarter. Appleton Partners Inc. MA now owns 35,147 shares of the company’s stock valued at $9,057,000 after buying an additional 581 shares during the period. Finally, Jacobs & Co. CA lifted its position in Constellation Brands by 4.3% in the third quarter. Jacobs & Co. CA now owns 37,625 shares of the company’s stock worth $9,695,000 after buying an additional 1,550 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Bank of America reissued a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research note on Monday. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $300.00 to $270.00 in a research note on Tuesday. Morgan Stanley decreased their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Jefferies Financial Group upped their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $291.06.

Constellation Brands Stock Performance

Shares of STZ stock opened at $241.13 on Wednesday. The company’s 50 day moving average is $246.47 and its 200 day moving average is $253.10. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $44.12 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.74 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $3.70 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is 30.10%.

Insider Activity

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 $706,266. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,414 shares of company stock worth $3,982,922. Corporate 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.