TrueMark Investments LLC Acquires Shares of 29,802 Constellation Brands Inc $STZ

Key Points

• TrueMark Investments LLC acquired 29,802 shares of Constellation Brands Inc, valued at approximately $4.8 million, in the second quarter.
• Constellation Brands announced a quarterly dividend of $1.02 per share, with an annualized yield of 2.9%, to be paid on November 13th.
• Hedge funds and institutional investors own approximately 77.34% of Constellation Brands' stock, indicating significant institutional interest.

TrueMark Investments LLC acquired a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,802 shares of the company's stock, valued at approximately $4,848,000.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in shares of Constellation Brands in the first quarter valued at about $38,000. Flaharty Asset Management LLC purchased a new position in shares of Constellation Brands in the first quarter valued at about $39,000. WPG Advisers LLC purchased a new position in shares of Constellation Brands in the first quarter valued at about $43,000. Hoey Investments Inc. purchased a new position in shares of Constellation Brands in the second quarter valued at about $40,000. Finally, Pinnacle Bancorp Inc. increased its position in shares of Constellation Brands by 45.5% in the first quarter. Pinnacle Bancorp Inc. now owns 278 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Up 0.8%

NYSE:STZ opened at $140.41 on Friday. Constellation Brands Inc has a one year low of $131.20 and a one year high of $245.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The company's 50-day simple moving average is $147.73 and its 200 day simple moving average is $166.56. The firm has a market capitalization of $24.58 billion, a P/E ratio of 20.50, a PEG ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.32 billion for the quarter. As a group, analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands's payout ratio is presently 59.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup cut their target price on shares of Constellation Brands from $155.00 to $145.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 23rd. Sanford C. Bernstein cut their target price on shares of Constellation Brands from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. UBS Group set a $160.00 target price on shares of Constellation Brands in a research note on Tuesday, October 7th. Zacks Research lowered shares of Constellation Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Finally, Raymond James Financial raised shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $186.44.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.45% of the stock is owned by insiders.

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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