InTrack Investment Management Inc Invests $465,000 in Constellation Brands, Inc. (NYSE:STZ)

InTrack Investment Management Inc bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,712 shares of the company’s stock, valued at approximately $465,000.

Several other large investors have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC increased its stake in shares of Constellation Brands by 16.5% in the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after acquiring an additional 41 shares in the last quarter. Aviance Capital Partners LLC increased its stake in Constellation Brands by 0.7% in the first quarter. Aviance Capital Partners LLC now owns 16,343 shares of the company’s stock valued at $4,441,000 after purchasing an additional 116 shares in the last quarter. Mirador Capital Partners LP raised its holdings in shares of Constellation Brands by 17.8% during the first quarter. Mirador Capital Partners LP now owns 4,532 shares of the company’s stock valued at $1,232,000 after purchasing an additional 685 shares during the period. Oak Asset Management LLC boosted its position in shares of Constellation Brands by 1.5% during the 1st quarter. Oak Asset Management LLC now owns 16,842 shares of the company’s stock worth $4,577,000 after purchasing an additional 255 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its stake in shares of Constellation Brands by 1.4% in the 1st quarter. SteelPeak Wealth LLC now owns 4,501 shares of the company’s stock valued at $1,223,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Mcgrew sold 3,237 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares in the company, valued at $442,270.50. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock worth $12,582,321 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of STZ stock traded up $2.65 during trading hours on Tuesday, hitting $258.94. 1,862,665 shares of the company were exchanged, compared to its average volume of 1,193,370. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $47.38 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.71 and a beta of 0.87. The firm has a fifty day simple moving average of $255.27 and a 200 day simple moving average of $253.86. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company earned $1.98 earnings per share. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a yield of 1.56%. Constellation Brands’s dividend payout ratio is 43.07%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STZ shares. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target on the stock in a report on Monday, April 15th. HSBC boosted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $296.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $315.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Finally, Bank of America raised their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $298.37.

Constellation Brands Company Profile

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.