6,333 Shares in Constellation Brands, Inc. (NYSE:STZ) Purchased by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the first quarter, HoldingsChannel reports. The institutional investor bought 6,333 shares of the company’s stock, valued at approximately $1,110,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in Constellation Brands by 0.3% during the third quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock worth $2,590,276,000 after acquiring an additional 30,782 shares during the period. Quantamental Technologies LLC acquired a new position in Constellation Brands during the fourth quarter worth $32,000. Oppenheimer Asset Management Inc. acquired a new position in Constellation Brands during the fourth quarter worth $151,000. Advisors Asset Management Inc. grew its holdings in Constellation Brands by 1.5% during the fourth quarter. Advisors Asset Management Inc. now owns 15,032 shares of the company’s stock worth $2,417,000 after acquiring an additional 217 shares during the period. Finally, TD Asset Management Inc. grew its holdings in Constellation Brands by 22.3% during the fourth quarter. TD Asset Management Inc. now owns 71,349 shares of the company’s stock worth $11,474,000 after acquiring an additional 13,004 shares during the period. Hedge funds and other institutional investors own 70.84% of the company’s stock.

In related news, VP Thomas Michael Kane sold 3,071 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $190.08, for a total transaction of $583,735.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Eric Klein sold 25,980 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $198.66, for a total value of $5,161,186.80. Following the transaction, the executive vice president now owns 69,852 shares in the company, valued at $13,876,798.32. The disclosure for this sale can be found here. Insiders sold 80,921 shares of company stock worth $16,404,441 over the last 90 days. Company insiders own 15.86% of the company’s stock.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Macquarie set a $220.00 target price on Constellation Brands and gave the company a “hold” rating in a report on Wednesday, June 5th. ValuEngine raised Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Morgan Stanley lowered Constellation Brands from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $230.00 to $220.00 in a report on Friday, May 24th. They noted that the move was a valuation call. Finally, Deutsche Bank lowered Constellation Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $191.00 to $194.00 in a report on Friday, April 5th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Constellation Brands currently has an average rating of “Buy” and an average price target of $224.13.

Shares of NYSE:STZ traded down $5.18 on Wednesday, hitting $189.78. The company had a trading volume of 603,840 shares, compared to its average volume of 2,306,944. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 0.92. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $234.26. The company has a market capitalization of $36.89 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.56 and a beta of 0.69.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.12. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $1.90 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 8.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.75 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, May 9th. Constellation Brands’s dividend payout ratio is currently 10.02%.

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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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