Erste Asset Management GmbH Purchases New Holdings in Constellation Brands, Inc. (NYSE:STZ)

Erste Asset Management GmbH acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 3rd quarter, Holdings Channel reports. The firm acquired 52,850 shares of the company’s stock, valued at approximately $13,619,000.

A number of other institutional investors also recently made changes to their positions in STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the second quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the second quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new position in Constellation Brands in the second quarter worth about $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands during the second quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on STZ. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. BMO Capital Markets decreased 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. Bank of America reissued a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Wells Fargo & Company decreased their price target on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Finally, UBS Group dropped their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Trading Up 2.1 %

Shares of NYSE:STZ opened at $240.95 on Monday. The company has a 50 day moving average of $241.72 and a 200-day moving average of $246.71. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a market cap of $43.75 billion, a P/E ratio of 77.98, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87.

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

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.68%. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by corporate insiders.

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.