Gallacher Capital Management LLC Buys Shares of 2,635 Constellation Brands Inc (NYSE:STZ)

Gallacher Capital Management LLC bought a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,635 shares of the company's stock, valued at approximately $484,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Capital World Investors raised its stake in shares of Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the period. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands during the 4th quarter valued at $1,242,976,000. Geode Capital Management LLC raised its stake in shares of Constellation Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock valued at $705,844,000 after purchasing an additional 63,323 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after purchasing an additional 18,557 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Down 0.5%

Shares of NYSE:STZ opened at $170.72 on Monday. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The firm has a market capitalization of $30.10 billion, a P/E ratio of -71.43, a P/E/G ratio of 10.32 and a beta of 0.67. The stock has a 50 day moving average price of $173.47 and a 200-day moving average price of $179.24. 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 (EPS) 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 firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company posted $3.57 EPS. The firm's revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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 paid a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.39%. Constellation Brands's payout ratio is currently -170.71%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on STZ shares. Royal Bank Of Canada decreased their price objective on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Bank of America boosted their target price on Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Insider Buying and Selling at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following 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 filing with the SEC, which is available at this hyperlink. 12.45% of the stock is owned by insiders.

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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