DLK Investment Management LLC Buys Shares of 31,379 Constellation Brands Inc (NYSE:STZ)

DLK Investment Management LLC acquired a new position in Constellation Brands Inc (NYSE:STZ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,379 shares of the company's stock, valued at approximately $5,759,000. Constellation Brands makes up about 2.4% of DLK Investment Management LLC's investment portfolio, making the stock its 16th biggest holding.

Several other institutional investors have also recently made changes to their positions in STZ. Harbor Capital Advisors Inc. increased its stake in Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $26,000. Johnson Investment Counsel Inc. grew its stake in Constellation Brands by 8.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company's stock valued at $458,000 after acquiring an additional 187 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Constellation Brands by 179.2% during the first quarter. Farther Finance Advisors LLC now owns 2,069 shares of the company's stock worth $382,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its position in shares of Constellation Brands by 39.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock valued at $1,347,000 after acquiring an additional 1,733 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STZ shares. Wells Fargo & Company decreased their price target on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday. Bank of America decreased their target price on shares of Constellation Brands from $195.00 to $180.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Roth Mkm lowered their target price on Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Bernstein Bank cut their price target on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Finally, Barclays set a $202.00 price target on shares of Constellation Brands and gave the company an "overweight" rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Insider Buying and Selling at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated 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 now owns 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.45% of the stock is owned by company insiders.

Constellation Brands Stock Performance

NYSE STZ traded down $0.16 on Thursday, reaching $161.37. The stock had a trading volume of 2,097,793 shares, compared to its average volume of 1,859,573. The stock has a market cap of $28.73 billion, a P/E ratio of -316.41, a price-to-earnings-growth ratio of 9.07 and a beta of 0.70. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45. The business's 50-day moving average price is $179.85 and its 200 day moving average price is $187.09. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. Constellation Brands's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.53%. The ex-dividend date was Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is -800.00%.

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.