Van ECK Associates Corp Buys 237,073 Shares of Constellation Brands Inc $STZ

Van ECK Associates Corp raised its stake in Constellation Brands Inc (NYSE:STZ) by 11.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,397,275 shares of the company’s stock after acquiring an additional 237,073 shares during the period. Van ECK Associates Corp’s holdings in Constellation Brands were worth $330,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of STZ. Stance Capital LLC bought a new stake in Constellation Brands in the 3rd quarter valued at $26,000. GoalVest Advisory LLC bought a new stake in Constellation Brands in the 4th quarter valued at $28,000. Elyxium Wealth LLC bought a new stake in Constellation Brands in the 4th quarter valued at $33,000. GW&K Investment Management LLC boosted its holdings in Constellation Brands by 58.9% in the 4th quarter. GW&K Investment Management LLC now owns 267 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Constellation Brands in the 4th quarter valued at $39,000. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

STZ has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Needham & Company LLC increased their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 10th. UBS Group increased their price objective on shares of Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a research note on Friday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Finally, Bank of America dropped their price objective on shares of Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $175.26.

Constellation Brands Trading Up 3.7%

Shares of Constellation Brands stock opened at $148.45 on Friday. The stock has a market capitalization of $25.56 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.31 and a beta of 0.39. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The company has a 50-day simple moving average of $149.90 and a 200 day simple moving average of $149.82. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.13.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $2.63 EPS. The company’s revenue was down 11.3% on a year-over-year basis. Research analysts expect that Constellation Brands Inc will post 11.87 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 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. Constellation Brands’s payout ratio is 42.96%.

Insider Activity

In other news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.45% of the company’s stock.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.