First Long Island Investors LLC Grows Stake in Constellation Brands, Inc. (NYSE:STZ)

First Long Island Investors LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 46,810 shares of the company’s stock after buying an additional 2,445 shares during the quarter. First Long Island Investors LLC’s holdings in Constellation Brands were worth $12,062,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands in the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction that occurred 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 sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 128,210 shares of company stock valued at $31,040,994. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 1.6 %

Shares of NYSE STZ traded down $3.81 during midday trading on Friday, hitting $238.19. The stock had a trading volume of 282,304 shares, compared to its average volume of 1,197,678. 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, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a market capitalization of $43.25 billion, a price-to-earnings ratio of 77.63, a PEG ratio of 1.70 and a beta of 0.90. The company has a fifty day moving average price of $244.36 and a 200 day moving average price of $248.25.

Constellation Brands (NYSE:STZ) last posted 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 firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $3.70 earnings per share. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Constellation Brands, Inc. will post 13.57 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, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Analysts Set New Price Targets

A number of research firms recently issued reports on STZ. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. BMO Capital Markets dropped their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Evercore ISI reduced their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Morgan Stanley decreased their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, UBS Group dropped their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

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.