Brookstone Capital Management Purchases 30,760 Shares of Constellation Brands Inc (NYSE:STZ)

Brookstone Capital Management lifted its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 184.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,414 shares of the company's stock after purchasing an additional 30,760 shares during the period. Brookstone Capital Management's holdings in Constellation Brands were worth $8,701,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president directly owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.45% of the stock is owned by company insiders.

Constellation Brands Price Performance

STZ stock traded down $1.26 during midday trading on Friday, reaching $172.61. The company had a trading volume of 1,808,258 shares, compared to its average volume of 1,910,866. The firm has a 50-day moving average price of $177.11 and a 200-day moving average price of $183.64. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $264.45. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.56. The company has a market capitalization of $30.73 billion, a P/E ratio of -72.22, a P/E/G ratio of 9.57 and a beta of 0.67.

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

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.36%. Constellation Brands's payout ratio is -170.71%.

Analyst Upgrades and Downgrades

STZ has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. BMO Capital Markets lowered their price objective on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. DA Davidson cut their price objective on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Finally, Royal Bank Of Canada lowered their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $213.35.

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.