Occidental Asset Management LLC Acquires 543 Shares of Constellation Brands, Inc. (NYSE:STZ)

Occidental Asset Management LLC lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 20.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,239 shares of the company’s stock after purchasing an additional 543 shares during the period. Occidental Asset Management LLC’s holdings in Constellation Brands were worth $638,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of STZ. Jackson Square Partners LLC bought a new stake in shares of Constellation Brands during the first quarter worth about $395,015,000. BlackRock Inc. grew its position in Constellation Brands by 14.7% in the 1st quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock worth $2,374,922,000 after purchasing an additional 1,734,902 shares in the last quarter. Jennison Associates LLC grew its position in Constellation Brands by 185.9% in the 1st quarter. Jennison Associates LLC now owns 1,237,096 shares of the company’s stock worth $216,900,000 after purchasing an additional 804,429 shares in the last quarter. Janus Henderson Group PLC grew its position in Constellation Brands by 53.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock worth $371,831,000 after purchasing an additional 737,613 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its position in Constellation Brands by 285.0% in the 1st quarter. Douglas Lane & Associates LLC now owns 264,310 shares of the company’s stock worth $46,342,000 after purchasing an additional 195,650 shares in the last quarter. 71.37% of the stock is owned by institutional investors.

STZ has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Constellation Brands from $207.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. SunTrust Banks upped their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. Barclays reaffirmed a “buy” rating and issued a $238.00 price objective on shares of Constellation Brands in a research report on Tuesday, July 2nd. UBS Group upped their price objective on shares of Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $223.83.

In other news, Director Jeremy S. G. Fowden sold 10,213 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the transaction, the director now owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO James A. Jr. Sabia sold 4,275 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total transaction of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares in the company, valued at approximately $8,468,281.80. The disclosure for this sale can be found here. 15.86% of the stock is owned by corporate insiders.

NYSE STZ traded up $0.54 on Thursday, hitting $193.90. The stock had a trading volume of 598,127 shares, compared to its average volume of 944,738. The business has a 50-day moving average of $197.04. The company has a market capitalization of $36.99 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $228.91. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.94.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.15. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 8.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s payout ratio is 32.33%.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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