Lee Danner & Bass Inc. Makes New $4.54 Million Investment in Constellation Brands, Inc. (NYSE:STZ)

Lee Danner & Bass Inc. acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,625 shares of the company’s stock, valued at approximately $4,535,000.

Several other hedge funds also recently added to or reduced their stakes in STZ. New Millennium Group LLC acquired a new position in Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the 2nd quarter worth $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the 2nd quarter worth $32,000. YHB Investment Advisors Inc. acquired a new position in Constellation Brands during the 1st quarter worth $35,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Constellation Brands in the 4th quarter valued at about $35,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of STZ stock traded up $2.74 during midday trading on Friday, reaching $240.71. 1,278,273 shares of the company were exchanged, compared to its average volume of 1,172,703. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a market cap of $44.04 billion, a P/E ratio of 17.94, a PEG ratio of 1.62 and a beta of 1.75. The company’s 50 day moving average price is $248.19 and its two-hundred day moving average price is $253.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $2.91 EPS. Constellation Brands’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on STZ shares. Jefferies Financial Group lifted their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Morgan Stanley decreased their price target on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Wednesday, July 31st. Barclays lifted their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, UBS Group lifted their price target on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $299.21.

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.