Synergy Asset Management LLC Has $1 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Synergy Asset Management LLC lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.6% in the first quarter, Holdings Channel.com reports. The firm owned 3,688 shares of the company’s stock after selling 680 shares during the period. Synergy Asset Management LLC’s holdings in Constellation Brands were worth $1,002,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in Constellation Brands by 34.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,432 shares of the company’s stock worth $1,114,000 after purchasing an additional 1,140 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Constellation Brands during the 3rd quarter worth approximately $288,000. Fred Alger Management LLC acquired a new stake in Constellation Brands in the 3rd quarter valued at about $1,914,000. Gotham Asset Management LLC boosted its holdings in shares of Constellation Brands by 75.1% during the 3rd quarter. Gotham Asset Management LLC now owns 11,740 shares of the company’s stock worth $2,951,000 after buying an additional 5,037 shares during the period. Finally, Shelton Capital Management raised its holdings in Constellation Brands by 350.5% in the 3rd quarter. Shelton Capital Management now owns 4,627 shares of the company’s stock valued at $1,163,000 after acquiring an additional 3,600 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several recent research reports. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Bank of America boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $298.37.

Constellation Brands Stock Down 0.1 %

Constellation Brands stock traded down $0.35 during midday trading on Tuesday, reaching $255.94. The stock had a trading volume of 806,950 shares, compared to its average volume of 1,184,966. The company has a fifty day moving average price of $255.34 and a two-hundred day moving average price of $253.76. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $46.83 billion, a P/E ratio of 27.21, a PEG ratio of 1.71 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 earnings per share. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were paid a $1.01 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.58%. Constellation Brands’s dividend payout ratio is 43.07%.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 over the last 90 days. 12.19% of the stock is currently owned by corporate insiders.

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.