AMI Asset Management Corp Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

AMI Asset Management Corp increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,856 shares of the company’s stock after purchasing an additional 5,389 shares during the quarter. Constellation Brands makes up approximately 2.4% of AMI Asset Management Corp’s portfolio, making the stock its 18th biggest position. AMI Asset Management Corp owned approximately 0.10% of Constellation Brands worth $47,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BKM Wealth Management LLC acquired a new position in shares of Constellation Brands in the 4th quarter valued at $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands during the fourth quarter worth approximately $35,000. First Financial Corp IN acquired a new stake in shares of Constellation Brands during the first quarter worth $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in Constellation Brands in the 4th quarter valued at $37,000. Finally, Exchange Traded Concepts LLC purchased a new position in Constellation Brands during the 4th quarter worth $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was 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 in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,031 shares of company stock worth $12,582,321. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 3.3 %

STZ stock traded down $8.57 during midday trading on Thursday, reaching $250.37. 2,670,323 shares of the company’s stock traded hands, compared to its average volume of 1,100,250. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The business has a 50-day moving average price of $254.99 and a two-hundred day moving average price of $254.00. The company has a market capitalization of $45.81 billion, a P/E ratio of 26.69, a PEG ratio of 1.72 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the company posted $2.91 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.61%. Constellation Brands’s payout ratio is 43.07%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Roth Mkm reaffirmed a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a report on Friday, April 12th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a report on Wednesday, April 10th. UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Finally, HSBC boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.63.

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.