Edgestream Partners L.P. Invests $8.14 Million in Constellation Brands Inc (NYSE:STZ)

Edgestream Partners L.P. bought a new position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 44,360 shares of the company's stock, valued at approximately $8,141,000.

A number of other institutional investors have also recently added to or reduced their stakes in STZ. Brighton Jones LLC grew its holdings in Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after acquiring an additional 187 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Constellation Brands by 39.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after acquiring an additional 1,733 shares during the last quarter. AlphaQuest LLC grew its holdings in Constellation Brands by 110,400.0% during the 4th quarter. AlphaQuest LLC now owns 1,105 shares of the company's stock worth $244,000 after acquiring an additional 1,104 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Constellation Brands by 13.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,615 shares of the company's stock worth $1,241,000 after purchasing an additional 654 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $9,591,000. 77.34% of the stock is owned by 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 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 in the company, valued at $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 12.45% of the company's stock.

Constellation Brands Stock Up 2.1%

STZ stock traded up $3.61 during midday trading on Thursday, reaching $171.73. 2,362,132 shares of the company's stock traded hands, compared to its average volume of 1,939,569. The company has a market cap of $30.27 billion, a price-to-earnings ratio of -71.85, a P/E/G ratio of 10.18 and a beta of 0.67. The firm's fifty day moving average price is $173.86 and its 200-day moving average price is $180.18. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $261.06.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.38%. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on STZ shares. Roth Capital dropped their price target on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. DA Davidson dropped their price target on shares of Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. Citigroup boosted their price target on shares of Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. BMO Capital Markets dropped their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, Roth Mkm dropped their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Eleven equities 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 company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

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.