HMS Capital Management LLC Increases Stock Position in Constellation Brands, Inc. (NYSE:STZ)

HMS Capital Management LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.2% during the third quarter, HoldingsChannel.com reports. The fund owned 3,060 shares of the company’s stock after buying an additional 232 shares during the quarter. HMS Capital Management LLC’s holdings in Constellation Brands were worth $789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors boosted its holdings in shares of Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors boosted its holdings in shares of Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after buying an additional 723,549 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock worth $671,246,000 after buying an additional 222,380 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after buying an additional 72,637 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 1.1 %

NYSE STZ opened at $236.99 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average of $245.30 and a two-hundred day moving average of $249.29. The firm has a market capitalization of $43.03 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.64 and a beta of 0.90. Constellation Brands, Inc. has a 52 week low of $231.70 and a 52 week high of $274.87.

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

Constellation Brands Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Finally, Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 141,793 shares of company stock valued at $34,300,914 over the last three months. 12.19% of the stock is owned by company 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.