Park Place Capital Corp Buys 82 Shares of Constellation Brands Inc (NYSE:STZ)

Park Place Capital Corp grew its stake in Constellation Brands Inc (NYSE:STZ) by 17.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547 shares of the company’s stock after acquiring an additional 82 shares during the period. Park Place Capital Corp’s holdings in Constellation Brands were worth $100,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Piscataqua Savings Bank grew its holdings in shares of Constellation Brands by 1.7% in the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company’s stock valued at $683,000 after acquiring an additional 62 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company’s stock valued at $1,283,000 after acquiring an additional 64 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company’s stock valued at $412,000 after acquiring an additional 65 shares in the last quarter. Barden Capital Management Inc. grew its holdings in Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock worth $1,232,000 after purchasing an additional 72 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its holdings in Constellation Brands by 9.7% during the first quarter. Creative Financial Designs Inc. ADV now owns 890 shares of the company’s stock worth $163,000 after purchasing an additional 79 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.0%

Shares of STZ stock opened at $161.34 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The stock has a market cap of $28.72 billion, a P/E ratio of -316.35, a price-to-earnings-growth ratio of 8.92 and a beta of 0.70. The stock has a 50 day simple moving average of $178.84 and a 200 day simple moving average of $185.96. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $264.45.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.26 earnings per share. On average, research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.53%. Constellation Brands’s dividend payout ratio is presently -800.00%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on STZ. UBS Group set a $195.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group reduced their price target on Constellation Brands from $201.00 to $196.00 in a report on Friday, April 11th. CJS Securities reduced their price target on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Needham & Company LLC reduced their price target on Constellation Brands from $215.00 to $195.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Constellation Brands from $191.00 to $185.00 and set a “hold” rating for the company in a report on Thursday, June 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.91.

About Constellation Brands

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.