3,527 Shares in Constellation Brands Inc (NYSE:STZ) Bought by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management Co. LLC has acquired a new stake in Constellation Brands, purchasing 3,527 shares valued at approximately $647,000.
• Several large investors have increased their holdings in Constellation Brands, including Harbor Capital Advisors, which grew its holdings by 36.4%.
• Wells Fargo & Company and Citigroup have adjusted their price targets for Constellation Brands, with Wells Fargo lowering it from $210.00 to $196.00 while Citigroup raised it from $170.00 to $174.00.

Longfellow Investment Management Co. LLC purchased a new position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,527 shares of the company's stock, valued at approximately $647,000.

Several other hedge funds and other institutional investors have also made changes to their positions in STZ. Minot DeBlois Advisors LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth $29,000. Optiver Holding B.V. purchased a new stake in Constellation Brands during the 4th quarter worth about $31,000. Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands during the 1st quarter worth about $32,000. Rakuten Securities Inc. increased its position in Constellation Brands by 805.0% during the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after purchasing an additional 161 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Constellation Brands during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Trading Up 0.2%

Shares of NYSE:STZ traded up $0.37 during trading on Wednesday, reaching $170.35. 1,429,446 shares of the stock were exchanged, compared to its average volume of 1,653,920. The firm's 50-day moving average price is $168.76 and its 200 day moving average price is $176.62. The firm has a market cap of $30.03 billion, a price-to-earnings ratio of -71.28, a price-to-earnings-growth ratio of 10.29 and a beta of 0.67. 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 Inc has a 12-month low of $159.35 and a 12-month high of $261.06.

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

Constellation Brands Dividend Announcement

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 given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.4%. Constellation Brands's payout ratio is -170.71%.

Insider Buying and Selling

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

STZ has been the subject of a number of recent research reports. Cowen reiterated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. CJS Securities dropped their price objective on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. UBS Group lifted their price objective on Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company dropped their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

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.