Toronto Dominion Bank Purchases 25,463 Shares of Constellation Brands, Inc. (NYSE:STZ)

Toronto Dominion Bank raised its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 41.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,585 shares of the company's stock after acquiring an additional 25,463 shares during the period. Toronto Dominion Bank's holdings in Constellation Brands were worth $19,135,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mainstream Capital Management LLC purchased a new stake in shares of Constellation Brands in the fourth quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA bought a new position in shares of Constellation Brands during the fourth quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands during the fourth quarter valued at $28,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Constellation Brands during the fourth quarter valued at $29,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

STZ traded down $1.61 during midday trading on Friday, reaching $178.10. The company had a trading volume of 3,033,821 shares, compared to its average volume of 1,772,571. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average of $184.91 and a two-hundred day moving average of $195.97. The company has a market cap of $31.71 billion, a P/E ratio of 47.88, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70.

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

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.29%. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price target on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $215.00 price target on shares of Constellation Brands in a report on Thursday, April 10th. Finally, Barclays upped their price target on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $225.74.

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.