Avitas Wealth Management LLC Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Avitas Wealth Management LLC increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,443 shares of the company’s stock after purchasing an additional 213 shares during the quarter. Constellation Brands makes up approximately 1.1% of Avitas Wealth Management LLC’s portfolio, making the stock its 27th biggest position. Avitas Wealth Management LLC’s holdings in Constellation Brands were worth $3,823,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its stake in Constellation Brands by 2,750.0% during the second quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 165 shares during the last quarter. Gradient Investments LLC lifted its stake in Constellation Brands by 265.3% during the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the last quarter. Next Capital Management LLC purchased a new stake in Constellation Brands during the second quarter worth approximately $35,000. Capital Bank & Trust Co purchased a new stake in Constellation Brands during the second quarter worth approximately $39,000. Finally, TCG Advisors LP purchased a new stake in Constellation Brands during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 72.15% of the company’s stock.

In other news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the transaction, the insider now owns 173,379 shares of the company’s stock, valued at $35,468,142.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.86% of the company’s stock.

A number of brokerages have weighed in on STZ. SunTrust Banks boosted their price objective on Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, July 1st. UBS Group boosted their price objective on Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Argus boosted their price objective on Constellation Brands to $230.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Barclays reiterated a “buy” rating and issued a $238.00 price objective on shares of Constellation Brands in a research note on Tuesday, July 2nd. Finally, TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $223.76.

NYSE:STZ opened at $197.02 on Friday. The firm has a market cap of $37.81 billion, a P/E ratio of 21.23, a PEG ratio of 2.96 and a beta of 0.69. The company has a current ratio of 1.61, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $201.95 and its 200-day simple moving average is $197.69. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $227.35.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.12. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 earnings per share. Research analysts forecast that Constellation Brands, Inc. will post 8.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s payout ratio is currently 32.33%.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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