Cornerstone Planning Group LLC Acquires New Stake in Constellation Brands, Inc. (NYSE:STZ)

Cornerstone Planning Group LLC bought a new stake in Constellation Brands, Inc. (NYSE:STZFree Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 192 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors have also added to or reduced their stakes in STZ. Indiana Trust & Investment Management CO purchased a new stake in Constellation Brands during the third quarter valued at about $25,000. Impact Partnership Wealth LLC boosted its holdings in shares of Constellation Brands by 1,175.0% during the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after purchasing an additional 94 shares during the period. TimeScale Financial Inc. purchased a new stake in shares of Constellation Brands during the second quarter worth about $34,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $34,000. Finally, First Financial Corp IN purchased a new stake in shares of Constellation Brands during the third quarter worth about $40,000. Institutional investors own 88.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STZ. Jefferies Financial Group began coverage on shares of Constellation Brands in a report on Monday, November 13th. They set a “buy” rating and a $292.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Finally, Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $289.24.

View Our Latest Report on Constellation Brands

Insider Transactions at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 102,152 shares of Constellation Brands stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $241.84, for a total transaction of $24,704,439.68. Following the transaction, the insider now owns 409,077 shares in the company, valued at approximately $98,931,181.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Trading Down 1.4 %

Shares of STZ stock opened at $247.06 on Tuesday. Constellation Brands, Inc. has a 12-month low of $210.15 and a 12-month high of $273.65. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $244.74 and its 200 day moving average is $249.04. The stock has a market capitalization of $45.17 billion, a P/E ratio of 29.24, a P/E/G ratio of 1.95 and a beta of 0.96.

Constellation Brands (NYSE:STZGet Free Report) last issued its earnings results on Friday, January 5th. The company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.16. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company posted $2.83 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts expect that Constellation Brands, Inc. will post 11.88 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, February 7th. Constellation Brands’s dividend payout ratio is presently 42.13%.

About Constellation Brands

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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