Novem Group Makes New Investment in Constellation Brands Inc (NYSE:STZ)

Novem Group acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 3,897 shares of the company's stock, valued at approximately $715,000.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands in the fourth quarter worth about $26,000. Minot DeBlois Advisors LLC bought a new stake in Constellation Brands during the 4th quarter valued at approximately $29,000. Optiver Holding B.V. purchased a new position in Constellation Brands in the 4th quarter worth approximately $31,000. Laurel Wealth Advisors LLC bought a new position in Constellation Brands in the 1st quarter worth approximately $32,000. Finally, Rakuten Securities Inc. boosted its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after purchasing an additional 161 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays set a $202.00 price objective on shares of Constellation Brands and gave the company an "overweight" rating in a research report on Thursday, June 26th. Bernstein Bank cut their target price on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. UBS Group boosted their price target on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday. CJS Securities dropped their price objective on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. lifted their target price on Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday. Eleven 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.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average target price of $213.35.

Constellation Brands Stock Performance

NYSE:STZ opened at $172.61 on Friday. The firm has a market capitalization of $30.73 billion, a PE ratio of -72.22, a PEG ratio of 9.64 and a beta of 0.67. The stock's fifty day moving average is $177.36 and its 200 day moving average is $184.05. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $264.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data 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). The firm 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 company's revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.57 EPS. On average, sell-side analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors 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 2.36%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Insiders Place Their Bets

In other Constellation Brands 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 owned 3,126 shares of the company's stock, 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 hyperlink. 12.45% of the stock is owned by company 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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