Empirical Finance LLC Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Empirical Finance LLC increased its position in Constellation Brands, Inc. (NYSE:STZ) by 14.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,848 shares of the company’s stock after purchasing an additional 368 shares during the period. Empirical Finance LLC’s holdings in Constellation Brands were worth $734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC raised its stake in Constellation Brands by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after acquiring an additional 39 shares during the last quarter. Oakworth Capital Inc. raised its stake in Constellation Brands by 4.4% during the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after acquiring an additional 42 shares during the last quarter. PFG Investments LLC raised its stake in Constellation Brands by 3.8% during the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after acquiring an additional 42 shares during the last quarter. Brighton Jones LLC raised its stake in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after acquiring an additional 43 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. raised its stake in Constellation Brands by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after acquiring an additional 44 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. BMO Capital Markets reduced their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Roth Mkm reiterated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. UBS Group dropped their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Performance

STZ opened at $237.51 on Friday. The stock has a market cap of $43.12 billion, a P/E ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $244.13 and its 200 day simple moving average is $248.05. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year 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, beating analysts’ consensus estimates 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%. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 EPS. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

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.