LaFleur & Godfrey LLC Buys Shares of 2,123 Constellation Brands, Inc. (NYSE:STZ)

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LaFleur & Godfrey LLC bought a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 2nd quarter, Holdings Channel reports. The firm bought 2,123 shares of the company’s stock, valued at approximately $418,000.

A number of other large investors have also recently bought and sold shares of STZ. Jackson Square Partners LLC acquired a new position in Constellation Brands in the 1st quarter valued at about $395,015,000. BlackRock Inc. boosted its holdings in Constellation Brands by 14.7% in the 1st quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares during the last quarter. Jennison Associates LLC boosted its holdings in Constellation Brands by 120.4% in the 2nd quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock valued at $537,087,000 after purchasing an additional 1,490,064 shares during the last quarter. Bank of America Corp DE boosted its holdings in Constellation Brands by 65.0% in the 2nd quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock valued at $697,895,000 after purchasing an additional 1,395,888 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Constellation Brands by 68.1% in the 2nd quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock valued at $305,847,000 after purchasing an additional 629,124 shares during the last quarter. Institutional investors own 72.10% of the company’s stock.

Shares of STZ opened at $205.10 on Friday. Constellation Brands, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $228.91. The firm’s 50 day moving average price is $200.21 and its 200 day moving average price is $193.53. The company has a market cap of $39.72 billion, a P/E ratio of 22.10, a PEG ratio of 3.11 and a beta of 0.69. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.94.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.15. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts forecast that Constellation Brands, Inc. will post 8.35 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, August 12th. Constellation Brands’s payout ratio is currently 32.33%.

In related news, Director Jeremy S. G. Fowden sold 10,213 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the sale, the director now directly owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Richard Sands sold 95,521 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the sale, the insider now directly owns 173,379 shares in the company, valued at $35,468,142.03. The disclosure for this sale can be found here. 15.86% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on STZ shares. BMO Capital Markets boosted their target price on shares of Constellation Brands from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday. Evercore ISI set a $220.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, August 9th. Barclays reissued a “buy” rating and issued a $238.00 price target on shares of Constellation Brands in a research note on Tuesday, July 2nd. SunTrust Banks boosted their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Finally, UBS Group boosted their price target on shares of Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $225.36.

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.

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Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZ).

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

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