Mutual of America Capital Management LLC Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Mutual of America Capital Management LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,223 shares of the company’s stock after buying an additional 100 shares during the period. Mutual of America Capital Management LLC’s holdings in Constellation Brands were worth $8,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Capital International Investors raised its holdings in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors raised its holdings in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after buying an additional 723,549 shares during the period. International Assets Investment Management LLC raised its holdings in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after buying an additional 497,543 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter valued at $119,394,000. Finally, Boston Partners raised its holdings in Constellation Brands by 50.9% during the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after buying an additional 328,881 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ opened at $238.06 on Tuesday. The business’s 50-day moving average is $243.88 and its two-hundred day moving average is $247.90. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. 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 firm has a market capitalization of $43.22 billion, a PE ratio of 77.04, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 130.74%.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,296 shares of company stock valued at $45,899,031. 12.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on STZ. Bank of America restated a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Barclays cut their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. BMO Capital Markets cut their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands 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.