Parallel Advisors LLC raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 21.6% during the second quarter, Holdings Channel reports. The fund owned 7,792 shares of the company’s stock after buying an additional 1,383 shares during the period. Parallel Advisors LLC’s holdings in Constellation Brands were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Jackson Square Partners LLC purchased a new position in Constellation Brands in the first quarter valued at about $395,015,000. BlackRock Inc. raised its position in shares of Constellation Brands by 14.7% in the first quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares during the period. Jennison Associates LLC raised its position in shares of Constellation Brands by 185.9% in the first quarter. Jennison Associates LLC now owns 1,237,096 shares of the company’s stock valued at $216,900,000 after purchasing an additional 804,429 shares during the period. Janus Henderson Group PLC raised its position in shares of Constellation Brands by 53.3% in the first quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock valued at $371,831,000 after purchasing an additional 737,613 shares during the period. Finally, Douglas Lane & Associates LLC raised its position in shares of Constellation Brands by 285.0% in the first quarter. Douglas Lane & Associates LLC now owns 264,310 shares of the company’s stock valued at $46,342,000 after purchasing an additional 195,650 shares during the period. Hedge funds and other institutional investors own 70.61% of the company’s stock.

Several analysts have recently issued reports on STZ shares. Macquarie set a $220.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Wednesday, June 5th. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Bank of America set a $221.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Monday, July 1st. Barclays reissued a “buy” rating and issued a $238.00 price target on shares of Constellation Brands in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $223.73.

In related news, Director Jeremy S. G. Fowden sold 10,213 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the sale, the director now owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO James A. Jr. Sabia sold 4,275 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total transaction of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares in the company, valued at approximately $8,468,281.80. The disclosure for this sale can be found here. Corporate insiders own 15.86% of the company’s stock.

Constellation Brands stock traded up $1.24 during midday trading on Wednesday, reaching $203.72. 238,126 shares of the stock were exchanged, compared to its average volume of 970,548. The company’s fifty day moving average is $197.78 and its 200-day moving average is $188.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22. The firm has a market cap of $38.08 billion, a PE ratio of 21.95, a PEG ratio of 2.98 and a beta of 0.71. Constellation Brands, Inc. has a 52 week low of $150.37 and a 52 week high of $228.91.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.15. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. Constellation Brands’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 8.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.

Constellation Brands Company Profile

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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