King Luther Capital Management Corp Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

King Luther Capital Management Corp grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,411 shares of the company’s stock after acquiring an additional 156 shares during the period. King Luther Capital Management Corp’s holdings in Constellation Brands were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands in the second quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the second quarter worth about $32,000. LRI Investments LLC purchased a new position in Constellation Brands during the first quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new position in Constellation Brands in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STZ shares. Morgan Stanley cut their target price 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. BMO Capital Markets cut their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Price Performance

Constellation Brands stock opened at $239.66 on Friday. The company has a fifty day simple moving average of $243.04 and a 200-day simple moving average of $247.49. The firm has a market capitalization of $43.51 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.70 and a beta of 0.90. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company earned $3.70 EPS. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s payout ratio is 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 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.