RNC Capital Management LLC Purchases 603 Shares of Constellation Brands, Inc. (NYSE:STZ)

RNC Capital Management LLC raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 19,623 shares of the company’s stock after buying an additional 603 shares during the quarter. RNC Capital Management LLC’s holdings in Constellation Brands were worth $4,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Columbia Trust Co 01012016 boosted its holdings in Constellation Brands by 23.1% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,089 shares of the company’s stock valued at $263,000 after acquiring an additional 204 shares during the period. Cresta Advisors Ltd. bought a new stake in Constellation Brands during the fourth quarter valued at about $387,000. Trust Co of the South bought a new stake in Constellation Brands during the fourth quarter valued at about $206,000. Tectonic Advisors LLC boosted its holdings in Constellation Brands by 8.0% during the fourth quarter. Tectonic Advisors LLC now owns 2,903 shares of the company’s stock valued at $702,000 after acquiring an additional 215 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Constellation Brands by 114.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 103,481 shares of the company’s stock valued at $25,017,000 after acquiring an additional 55,247 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Price Performance

STZ opened at $272.07 on Thursday. Constellation Brands, Inc. has a one year low of $217.05 and a one year high of $273.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 0.46. The company’s 50 day simple moving average is $252.62 and its 200-day simple moving average is $246.18. The stock has a market capitalization of $49.74 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating 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 business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm earned $2.83 earnings per share. Constellation Brands’s revenue was up 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 11.92 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a yield of 1.31%. Constellation Brands’s payout ratio is presently 42.13%.

Analyst Ratings Changes

A number of research analysts have recently commented on STZ shares. Argus lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Piper Sandler started coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective for the company. Bank of America upped their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.37.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Family Foundation Sands sold 354,616 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $250.26, for a total value of $88,746,200.16. Following the transaction, the insider now directly owns 54,461 shares of the company’s stock, valued at $13,629,409.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 16.19% of the company’s stock.

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