Ables Iannone Moore & Associates Inc. Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

Ables Iannone Moore & Associates Inc. lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,726 shares of the company’s stock after purchasing an additional 718 shares during the period. Constellation Brands comprises approximately 1.2% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 18th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in Constellation Brands were worth $1,929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. State Street Corp raised its stake in shares of Constellation Brands by 6.0% during the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock worth $477,515,000 after purchasing an additional 21,454 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after purchasing an additional 241,982 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after buying an additional 497,543 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $1.26 on Monday, reaching $223.18. 1,880,080 shares of the stock were exchanged, compared to its average volume of 1,455,801. The business has a 50 day moving average price of $234.13 and a two-hundred day moving average price of $243.06. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of 72.23, a PEG ratio of 1.69 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $217.52 and a twelve month high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on STZ shares. BNP Paribas started coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. UBS Group dropped their price target 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. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Evercore ISI cut their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Insider Activity

In related news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was 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 of the company’s stock, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 in the last quarter. 12.19% of the stock is currently owned by company insiders.

About Constellation Brands

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.