Narwhal Capital Management Has $8.66 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Narwhal Capital Management grew its position in Constellation Brands, Inc. (NYSE:STZ) by 49.0% during the third quarter, HoldingsChannel.com reports. The firm owned 33,609 shares of the company’s stock after buying an additional 11,053 shares during the quarter. Narwhal Capital Management’s holdings in Constellation Brands were worth $8,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of STZ. New Millennium Group LLC acquired a new position in Constellation Brands during the 2nd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands in the 2nd quarter valued at $32,000. First Financial Corp IN bought a new stake in Constellation Brands during the 1st quarter worth about $35,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the 2nd quarter worth about $36,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

STZ opened at $241.62 on Wednesday. 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 business has a fifty day simple moving average of $246.55 and a 200 day simple moving average of $251.01. Constellation Brands, Inc. has a 1 year low of $227.64 and a 1 year high of $274.87. The company has a market capitalization of $44.21 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.67%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the completion of the transaction, the director now directly owns 3,232 shares of the company’s stock, valued at $815,853.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,221 shares of company stock worth $33,007,175. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Jefferies Financial Group upped their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Company 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.