Massey Quick Simon & CO. LLC Purchases New Position in Constellation Brands Inc (STZ)

Massey Quick Simon & CO. LLC purchased a new position in shares of Constellation Brands Inc (NYSE:STZ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,778 shares of the company’s stock, valued at approximately $355,000.

Several other hedge funds also recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Constellation Brands by 1.0% in the 3rd quarter. Rhumbline Advisers now owns 301,190 shares of the company’s stock valued at $60,072,000 after purchasing an additional 3,038 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Constellation Brands by 12.2% in the 3rd quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after purchasing an additional 7,086 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Constellation Brands by 2.8% in the 3rd quarter. CIBC Asset Management Inc now owns 23,582 shares of the company’s stock valued at $4,703,000 after purchasing an additional 639 shares during the last quarter. Intrust Bank NA grew its stake in shares of Constellation Brands by 12.2% in the 3rd quarter. Intrust Bank NA now owns 3,646 shares of the company’s stock valued at $727,000 after purchasing an additional 396 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its stake in shares of Constellation Brands by 45.3% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 83,059 shares of the company’s stock valued at $16,605,000 after purchasing an additional 25,879 shares during the last quarter. Institutional investors own 74.38% of the company’s stock.

Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 target price on shares of Constellation Brands in a research note on Wednesday, August 2nd. Cowen and Company reiterated a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research note on Thursday, August 3rd. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $193.00 target price (up from $169.00) on shares of Constellation Brands in a research note on Monday, October 2nd. Citigroup Inc. reiterated a “neutral” rating and issued a $232.00 target price (up from $211.00) on shares of Constellation Brands in a research note on Monday, October 9th. Finally, BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Constellation Brands has an average rating of “Buy” and an average price target of $216.00.

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Shares of Constellation Brands Inc (NYSE:STZ) traded up $2.09 during mid-day trading on Tuesday, reaching $220.76. The company had a trading volume of 885,400 shares, compared to its average volume of 1,486,367. The firm has a market capitalization of $42,773.38, a PE ratio of 26.50, a PEG ratio of 1.41 and a beta of 0.10. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $221.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 1.61.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.30. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. Constellation Brands’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. sell-side analysts anticipate that Constellation Brands Inc will post 8.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.94%. Constellation Brands’s dividend payout ratio is presently 23.85%.

In other news, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,179 shares of company stock valued at $18,030,434. 15.59% of the stock is currently owned by insiders.

Constellation Brands Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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