World Investment Advisors LLC Buys 683 Shares of Constellation Brands, Inc. (NYSE:STZ)

World Investment Advisors LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 36.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,550 shares of the company’s stock after acquiring an additional 683 shares during the quarter. World Investment Advisors LLC’s holdings in Constellation Brands were worth $657,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. grew its holdings in shares of Constellation Brands by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after buying an additional 42 shares during the period. PFG Investments LLC lifted its stake in Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after buying an additional 42 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after buying an additional 43 shares during the period. Metis Global Partners LLC increased its position in shares of Constellation Brands by 0.8% during the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares in the last quarter. Finally, Umpqua Bank raised its holdings in shares of Constellation Brands by 4.6% during the second quarter. Umpqua Bank now owns 1,124 shares of the company’s stock worth $289,000 after acquiring an additional 49 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STZ has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Bank of America restated a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Finally, TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $288.70.

Insider Transactions at Constellation Brands

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Price Performance

Shares of STZ opened at $232.92 on Tuesday. The firm has a market capitalization of $42.29 billion, a PE ratio of 75.38, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company’s 50-day moving average is $238.79 and its 200-day moving average is $245.94. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

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.