Hartford Funds Management Co LLC Acquires 72 Shares of Constellation Brands, Inc. (NYSE:STZ)

Hartford Funds Management Co LLC lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,797 shares of the company’s stock after purchasing an additional 72 shares during the period. Hartford Funds Management Co LLC’s holdings in Constellation Brands were worth $463,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Summit Trail Advisors LLC grew its holdings in shares of Constellation Brands by 9.8% during the third quarter. Summit Trail Advisors LLC now owns 2,925 shares of the company’s stock worth $754,000 after purchasing an additional 262 shares during the last quarter. Pitcairn Co. grew its holdings in shares of Constellation Brands by 36.9% during the third quarter. Pitcairn Co. now owns 7,052 shares of the company’s stock worth $1,817,000 after purchasing an additional 1,901 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Constellation Brands by 10.8% during the third quarter. Cerity Partners LLC now owns 121,454 shares of the company’s stock worth $31,298,000 after purchasing an additional 11,856 shares during the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Constellation Brands by 7.7% during the third quarter. Great Valley Advisor Group Inc. now owns 20,745 shares of the company’s stock valued at $5,346,000 after acquiring an additional 1,489 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in shares of Constellation Brands by 32.2% during the third quarter. Raymond James Trust N.A. now owns 3,567 shares of the company’s stock valued at $919,000 after acquiring an additional 869 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.5 %

Shares of Constellation Brands stock opened at $239.66 on Friday. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The business has a 50-day moving average of $243.04 and a two-hundred day moving average of $247.49. The company has a market capitalization of $43.51 billion, a P/E ratio of 77.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STZ. UBS Group cut their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Bank of America reaffirmed a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insiders Place Their Bets

In related news, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock worth $46,058,091 over the last ninety days. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands 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.