Constellation Brands Inc $STZ Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Constellation Brands by 31.6%, acquiring an additional 33,241 shares during the second quarter, bringing its total ownership to 138,308 shares valued at $22.5 million.
• Several large investors, including Vanguard Group and Wellington Management, have also boosted their positions in Constellation Brands, reflecting positive institutional interest in the company.
• Constellation Brands announced a quarterly dividend of $1.02 per share, with the ex-dividend date set for October 30th, indicating a potential annualized yield of 2.9%

Janney Montgomery Scott LLC lifted its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 31.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,308 shares of the company's stock after acquiring an additional 33,241 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Constellation Brands worth $22,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Constellation Brands by 18.6% during the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company's stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the period. Wellington Management Group LLP increased its position in shares of Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company's stock worth $822,314,000 after acquiring an additional 2,514,517 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Constellation Brands by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company's stock worth $352,748,000 after acquiring an additional 139,158 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Constellation Brands by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company's stock worth $310,851,000 after acquiring an additional 76,186 shares during the period. Finally, Northern Trust Corp increased its position in shares of Constellation Brands by 1.2% during the first quarter. Northern Trust Corp now owns 1,534,357 shares of the company's stock worth $281,585,000 after acquiring an additional 17,832 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on Constellation Brands from $195.00 to $176.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. BMO Capital Markets dropped their target price on Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. JPMorgan Chase & Co. increased their target price on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Citigroup dropped their target price on Constellation Brands from $155.00 to $145.00 and set a "neutral" rating on the stock in a report on Tuesday, September 23rd. Finally, Jefferies Financial Group dropped their target price on Constellation Brands from $205.00 to $179.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $190.16.

Constellation Brands Price Performance

Shares of STZ opened at $140.51 on Friday. Constellation Brands Inc has a fifty-two week low of $131.20 and a fifty-two week high of $254.88. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of -58.79, a price-to-earnings-growth ratio of 0.42 and a beta of 1.75. The firm has a 50-day simple moving average of $154.39 and a 200-day simple moving average of $169.74. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07.

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

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands's dividend payout ratio is -170.71%.

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.

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