Rafferty Asset Management LLC Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Rafferty Asset Management LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,545 shares of the company's stock after purchasing an additional 1,451 shares during the quarter. Rafferty Asset Management LLC's holdings in Constellation Brands were worth $2,993,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares in the last quarter. Copperleaf Capital LLC purchased a new stake in Constellation Brands during the fourth quarter worth $343,000. Grimes & Company Inc. acquired a new position in shares of Constellation Brands in the fourth quarter worth $6,099,000. Empowered Funds LLC raised its holdings in shares of Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock worth $3,663,000 after acquiring an additional 6,391 shares during the last quarter. Finally, Southern Style Financial Inc. acquired a new position in shares of Constellation Brands in the fourth quarter worth $3,074,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was 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 of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $192.93 on Tuesday. The firm has a market capitalization of $34.35 billion, a PE ratio of 51.86, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business has a 50-day moving average of $184.28 and a two-hundred day moving average of $198.69. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 earnings per share. As a group, research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.11%. Constellation Brands's dividend payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on STZ shares. The Goldman Sachs Group cut their price target on Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a report on Friday, April 11th. Needham & Company LLC reissued a "buy" rating and issued a $215.00 price target on shares of Constellation Brands in a report on Thursday, April 10th. StockNews.com raised Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday. Royal Bank of Canada cut their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Barclays boosted their price target on Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.74.

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.

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