124,347 Shares in Constellation Brands Inc (NYSE:STZ) Acquired by CORDA Investment Management LLC.

CORDA Investment Management LLC. acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 124,347 shares of the company's stock, valued at approximately $22,820,000. Constellation Brands accounts for approximately 1.8% of CORDA Investment Management LLC.'s holdings, making the stock its 28th largest position. CORDA Investment Management LLC. owned approximately 0.07% of Constellation Brands as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Constellation Brands in the fourth quarter worth about $26,000. Minot DeBlois Advisors LLC bought a new stake in Constellation Brands during the 4th quarter valued at approximately $29,000. Optiver Holding B.V. bought a new stake in Constellation Brands during the 4th quarter valued at approximately $31,000. Laurel Wealth Advisors LLC bought a new stake in Constellation Brands during the 1st quarter valued at approximately $32,000. Finally, Rakuten Securities Inc. boosted its position in shares of Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ traded down $1.24 during trading hours on Wednesday, reaching $169.31. 1,829,638 shares of the company traded hands, compared to its average volume of 1,914,928. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $30.14 billion, a P/E ratio of -70.84, a P/E/G ratio of 9.48 and a beta of 0.67. The business has a fifty day moving average price of $176.49 and a 200-day moving average price of $182.54.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the company posted $3.57 earnings per share. Constellation Brands's revenue for the quarter was down 5.5% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.41%. Constellation Brands's payout ratio is -170.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on STZ. Wells Fargo & Company dropped their price target on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Bernstein Bank decreased their target price on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. Citigroup raised their price target on Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Finally, UBS Group raised their price target on Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.45% of the company's stock.

Constellation Brands 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.