Sky Investment Group LLC Has $1.68 Million Position in Constellation Brands, Inc. (STZ)

Sky Investment Group LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,563 shares of the company’s stock after acquiring an additional 843 shares during the period. Sky Investment Group LLC’s holdings in Constellation Brands were worth $1,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Cipher Capital LP boosted its stake in shares of Constellation Brands by 205.6% in the fourth quarter. Cipher Capital LP now owns 50,775 shares of the company’s stock valued at $8,165,000 after buying an additional 34,159 shares during the period. California State Teachers Retirement System raised its position in Constellation Brands by 1.7% during the fourth quarter. California State Teachers Retirement System now owns 258,400 shares of the company’s stock valued at $41,556,000 after purchasing an additional 4,443 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $1,239,000. BOKF NA raised its position in Constellation Brands by 197.8% during the fourth quarter. BOKF NA now owns 8,970 shares of the company’s stock valued at $1,443,000 after purchasing an additional 5,958 shares in the last quarter. Finally, Oak Grove Capital LLC raised its position in Constellation Brands by 308.3% during the fourth quarter. Oak Grove Capital LLC now owns 7,350 shares of the company’s stock valued at $1,182,000 after purchasing an additional 5,550 shares in the last quarter. Hedge funds and other institutional investors own 74.22% of the company’s stock.

NYSE STZ traded up $1.34 during trading hours on Friday, hitting $203.23. The company’s stock had a trading volume of 1,604,371 shares, compared to its average volume of 1,449,284. Constellation Brands, Inc. has a 52 week low of $150.37 and a 52 week high of $234.26. The stock has a market cap of $38.63 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.76 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.12. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Constellation Brands, Inc. will post 8.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.75 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.00 annualized dividend and a yield of 1.48%. Constellation Brands’s dividend payout ratio (DPR) is 32.33%.

In other Constellation Brands news, EVP David Eric Klein sold 25,980 shares of the 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 completion of the sale, the executive vice president now owns 69,852 shares in the company, valued at approximately $13,876,798.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Barry A. Fromberg sold 1,500 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $174.72, for a total transaction of $262,080.00. Following the completion of the sale, the director now owns 18,240 shares of the company’s stock, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,551 shares of company stock valued at $6,007,002. Company insiders own 15.80% of the company’s stock.

Several brokerages have commented on STZ. Morgan Stanley lowered their price objective on shares of Constellation Brands from $246.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, January 11th. Deutsche Bank downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and upped their price target for the stock from $191.00 to $194.00 in a report on Friday, April 5th. Zacks Investment Research downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Monday, January 14th. Credit Suisse Group assumed coverage on shares of Constellation Brands in a report on Wednesday, March 6th. They set an “outperform” rating and a $230.00 price target for the company. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, February 21st. Eleven 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 stock. Constellation Brands currently has an average rating of “Buy” and an average price target of $223.13.

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Constellation Brands Company 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.

Further Reading: Investing in Growth Stocks

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

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