Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Constellation Brands, Inc. (NYSE:STZ)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.9% during the third quarter, HoldingsChannel reports. The fund owned 80,025 shares of the company’s stock after purchasing an additional 9,154 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Constellation Brands were worth $20,622,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new position in Constellation Brands in the second quarter valued at approximately $119,394,000. Empowered Funds LLC boosted its holdings in shares of Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Constellation Brands in the 3rd quarter valued at $2,132,000. WealthPlan Investment Management LLC raised its stake in Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock worth $7,772,000 after acquiring an additional 6,867 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Constellation Brands in the first quarter valued at $561,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock opened at $240.85 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $241.72 and a 200-day simple moving average of $246.80. The company has a market cap of $43.73 billion, a price-to-earnings ratio of 77.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data 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. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.70 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Barclays dropped 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. Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Morgan Stanley decreased their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $289.16.

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.