Soros Capital Management LLC Buys 2,517 Shares of Constellation Brands, Inc. (NYSE:STZ)

Soros Capital Management LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,650 shares of the company’s stock after purchasing an additional 2,517 shares during the period. Soros Capital Management LLC’s holdings in Constellation Brands were worth $3,517,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $32,000. LRI Investments LLC purchased a new position in shares of Constellation Brands during the first quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Down 3.3 %

Constellation Brands stock opened at $233.68 on Wednesday. The business has a fifty day moving average of $242.42 and a two-hundred day moving average of $247.08. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market cap of $42.43 billion, a P/E ratio of 75.62, a P/E/G ratio of 1.71 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s payout ratio is presently 130.74%.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STZ. BMO Capital Markets dropped their target price 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. Wells Fargo & Company dropped their target price on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday. Evercore ISI dropped their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. BNP Paribas began coverage on Constellation Brands in a report on Monday. They issued a “neutral” rating and a $261.00 price target for the company. Finally, TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $289.16.

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.