Wagner Bowman Management Corp Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Wagner Bowman Management Corp raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,243 shares of the company’s stock after acquiring an additional 225 shares during the quarter. Wagner Bowman Management Corp’s holdings in Constellation Brands were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Wisconsin Capital Management LLC boosted its stake in shares of Constellation Brands by 0.3% during the 1st quarter. Wisconsin Capital Management LLC now owns 15,044 shares of the company’s stock worth $2,638,000 after acquiring an additional 50 shares during the last quarter. Trustcore Financial Services LLC boosted its stake in shares of Constellation Brands by 6.7% during the 1st quarter. Trustcore Financial Services LLC now owns 814 shares of the company’s stock worth $143,000 after acquiring an additional 51 shares during the last quarter. HCR Wealth Advisors lifted its stake in shares of Constellation Brands by 0.8% during the 1st quarter. HCR Wealth Advisors now owns 6,187 shares of the company’s stock valued at $993,000 after buying an additional 52 shares in the last quarter. Berman Capital Advisors LLC lifted its stake in shares of Constellation Brands by 31.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 219 shares of the company’s stock valued at $43,000 after buying an additional 53 shares in the last quarter. Finally, Sky Investment Group LLC lifted its stake in shares of Constellation Brands by 0.6% during the 2nd quarter. Sky Investment Group LLC now owns 9,618 shares of the company’s stock valued at $1,894,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 71.37% of the company’s stock.

In other Constellation Brands news, CMO James A. Jr. Sabia sold 4,275 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total value of $832,342.50. Following the sale, the chief marketing officer now owns 43,494 shares in the company, valued at approximately $8,468,281.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the completion of the sale, the director now owns 27,630 shares in the company, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is owned by insiders.

STZ stock traded up $4.39 during mid-day trading on Friday, hitting $198.79. The company had a trading volume of 955,600 shares, compared to its average volume of 964,810. The company has a market capitalization of $37.04 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.90 and a beta of 0.71. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $228.91. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $197.45 and a 200 day moving average price of $188.44.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.06 by $0.15. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 EPS. As a group, analysts expect that Constellation Brands, Inc. will post 8.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s payout ratio is currently 32.33%.

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Constellation Brands from $207.00 to $217.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group lifted their target price on shares of Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Evercore ISI set a $220.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America set a $221.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $223.73.

About Constellation Brands

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

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