Boston Family Office LLC Buys 191 Shares of Constellation Brands, Inc. (NYSE:STZ)

Boston Family Office LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 22.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,035 shares of the company’s stock after purchasing an additional 191 shares during the period. Boston Family Office LLC’s holdings in Constellation Brands were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in Constellation Brands in the second quarter valued at $119,394,000. Empowered Funds LLC grew its position in shares of Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after acquiring an additional 7,752 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Constellation Brands in the 3rd quarter valued at about $2,132,000. WealthPlan Investment Management LLC grew its position in shares of Constellation Brands by 29.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after acquiring an additional 6,867 shares during the period. Finally, Swedbank AB bought a new position in shares of Constellation Brands in the 1st quarter valued at about $561,000. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,771,800.92. This represents a 77.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 in the last three months. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $241.67 on Tuesday. The firm has a 50 day moving average of $242.80 and a 200-day moving average of $247.27. The stock has a market capitalization of $43.88 billion, a PE ratio of 78.21, a PEG ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87.

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

Constellation Brands Announces Dividend

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. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is 130.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday. They set a “neutral” rating and a $261.00 target price for the company. Bank of America restated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. 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 research note on Monday, August 26th. Finally, TD Cowen cut shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $288.83.

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.