Garner Asset Management Corp Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Garner Asset Management Corp grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,336 shares of the company’s stock after buying an additional 226 shares during the quarter. Garner Asset Management Corp’s holdings in Constellation Brands were worth $1,375,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Hartford Funds Management Co LLC grew its stake in Constellation Brands by 4.2% during the third quarter. Hartford Funds Management Co LLC now owns 1,797 shares of the company’s stock worth $463,000 after buying an additional 72 shares during the period. Summit Trail Advisors LLC grew its stake in 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 buying an additional 262 shares during the period. Pitcairn Co. grew its stake in 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 buying an additional 1,901 shares during the period. Cerity Partners LLC grew its stake in 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 buying an additional 11,856 shares during the period. Finally, Great Valley Advisor Group Inc. grew its stake in Constellation Brands by 7.7% during the third quarter. Great Valley Advisor Group Inc. now owns 20,745 shares of the company’s stock worth $5,346,000 after buying an additional 1,489 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on STZ. Bank of America reiterated a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Evercore ISI decreased their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Constellation Brands Price Performance

Shares of STZ stock opened at $239.66 on Friday. The firm has a market cap of $43.51 billion, a P/E ratio of 77.56, a P/E/G 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, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The firm has a fifty day moving average of $243.04 and a two-hundred day moving average of $247.49.

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

Constellation Brands Announces Dividend

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

Insider Transactions at Constellation Brands

In related news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by insiders.

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.