Sit Investment Associates Inc. Acquires Shares of 59,855 Constellation Brands, Inc. (NYSE:STZ)

Sit Investment Associates Inc. acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 59,855 shares of the company’s stock, valued at approximately $10,494,000.

A number of other large investors also recently made changes to their positions in STZ. Versant Capital Management Inc raised its stake in Constellation Brands by 210.9% in the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after acquiring an additional 97 shares during the last quarter. Mosaic Family Wealth LLC acquired a new stake in shares of Constellation Brands during the 1st quarter worth $27,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 1st quarter worth $33,000. Quantamental Technologies LLC bought a new stake in Constellation Brands in the fourth quarter worth approximately $32,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Constellation Brands by 74.4% during the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock valued at $37,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 70.84% of the company’s stock.

Several research firms have recently commented on STZ. Deutsche Bank downgraded Constellation Brands from a “buy” rating to a “hold” rating and boosted their price objective for the company from $191.00 to $194.00 in a report on Friday, April 5th. Credit Suisse Group initiated coverage on Constellation Brands in a research report on Wednesday, March 6th. They set an “outperform” rating and a $230.00 target price on the stock. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Morgan Stanley raised Constellation Brands to a “hold” rating in a research report on Friday, April 5th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, February 21st. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $224.13.

In related news, EVP David Eric Klein sold 25,980 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the transaction, the executive vice president now directly owns 69,852 shares of the company’s stock, valued at approximately $13,876,798.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO James A. Jr. Sabia sold 4,275 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total transaction of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares in the company, valued at $8,468,281.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,921 shares of company stock worth $16,404,441. Corporate insiders own 15.86% of the company’s stock.

NYSE:STZ traded down $0.20 during trading hours on Friday, reaching $189.14. The company’s stock had a trading volume of 12,578 shares, compared to its average volume of 1,897,867. The company has a market capitalization of $36.23 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.57 and a beta of 0.68. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 0.92. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $234.26.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.12. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $1.90 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that Constellation Brands, Inc. will post 8.56 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.75 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, May 9th. Constellation Brands’s dividend payout ratio is presently 32.33%.

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Constellation Brands Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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

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