Diamond Hill Capital Management Inc. Grows Stock Position in Constellation Brands Inc (NYSE:STZ)

Diamond Hill Capital Management Inc. boosted its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 56.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,871 shares of the company's stock after acquiring an additional 55,442 shares during the period. Diamond Hill Capital Management Inc. owned 0.09% of Constellation Brands worth $28,238,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC bought a new stake in Constellation Brands in the fourth quarter valued at $29,000. Optiver Holding B.V. bought a new stake in Constellation Brands in the fourth quarter valued at $31,000. Laurel Wealth Advisors LLC bought a new stake in Constellation Brands in the first quarter valued at $32,000. Rakuten Securities Inc. boosted its holdings in Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in Constellation Brands in the fourth quarter valued at $44,000. Institutional investors own 77.34% of the company's stock.

Insider Transactions at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the company's 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 of the company's stock, valued at $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the company from $194.00 to $205.00 in a report on Monday, July 7th. CJS Securities dropped their target price on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada dropped 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 research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Constellation Brands Stock Performance

NYSE:STZ traded down $0.03 during mid-day trading on Friday, reaching $175.61. The company's stock had a trading volume of 1,014,120 shares, compared to its average volume of 2,480,315. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $261.06. The firm's fifty day moving average price is $171.87 and its two-hundred day moving average price is $177.92. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a market cap of $30.96 billion, a P/E ratio of -73.48, a PEG ratio of 10.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the firm posted $3.57 EPS. Constellation Brands's quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Constellation Brands Company 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.