First Long Island Investors LLC Acquires 265 Shares of Constellation Brands, Inc. (NYSE:STZ)

First Long Island Investors LLC grew its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,320 shares of the company’s stock after purchasing an additional 265 shares during the quarter. First Long Island Investors LLC’s holdings in Constellation Brands were worth $6,609,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Howland Capital Management LLC raised its holdings in Constellation Brands by 3.0% during the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock worth $38,403,000 after purchasing an additional 4,051 shares during the last quarter. 9258 Wealth Management LLC bought a new position in Constellation Brands during the 1st quarter worth approximately $218,000. Team Hewins LLC raised its holdings in Constellation Brands by 6.0% during the 1st quarter. Team Hewins LLC now owns 1,744 shares of the company’s stock worth $474,000 after purchasing an additional 99 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Constellation Brands during the 1st quarter worth approximately $8,554,000. Finally, United Community Bank grew its position in shares of Constellation Brands by 14.6% during the 1st quarter. United Community Bank now owns 588 shares of the company’s stock worth $160,000 after buying an additional 75 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders have sold 48,031 shares of company stock worth $12,582,321 in the last ninety days. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on STZ. UBS Group raised their price objective on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Barclays reduced their price objective on shares of Constellation Brands from $292.00 to $287.00 in a research report on Friday, July 5th. Roth Mkm reduced their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research report on Friday, July 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.11.

Constellation Brands Stock Up 2.5 %

STZ traded up $6.36 during mid-day trading on Thursday, reaching $259.44. 926,828 shares of the stock were exchanged, compared to its average volume of 1,210,079. The stock has a market capitalization of $47.47 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a 50 day moving average price of $254.66 and a two-hundred day moving average price of $254.59.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.91 EPS. As a group, research analysts anticipate that Constellation Brands, Inc. will post 13.7 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders 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 dividend yield of 1.56%. The ex-dividend date is Wednesday, August 14th. Constellation Brands’s payout ratio is 43.07%.

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.