Castleark Management LLC Takes $22.16 Million Position in Constellation Brands, Inc. (NYSE:STZ)

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Castleark Management LLC bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 112,527 shares of the company’s stock, valued at approximately $22,161,000. Castleark Management LLC owned 0.06% of Constellation Brands as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mosaic Family Wealth LLC bought a new position in Constellation Brands in the first quarter worth approximately $27,000. Meeder Asset Management Inc. increased its holdings in shares of Constellation Brands by 2,750.0% during the second quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 165 shares in the last quarter. Gradient Investments LLC increased its holdings in shares of Constellation Brands by 265.3% during the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after acquiring an additional 130 shares in the last quarter. Next Capital Management LLC acquired a new position in shares of Constellation Brands during the second quarter worth approximately $35,000. Finally, Global Retirement Partners LLC raised its position in shares of Constellation Brands by 74.4% during the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after purchasing an additional 90 shares during the period. Institutional investors own 72.30% of the company’s stock.

In related news, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the sale, the insider now owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the transaction, the director now owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by company insiders.

Several research firms recently issued reports on STZ. Citigroup set a $210.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Monday, July 1st. Morgan Stanley upped their price objective on shares of Constellation Brands from $207.00 to $217.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 2nd. Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, August 9th. SunTrust Banks lifted their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Macquarie set a $220.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a report on Wednesday, June 5th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $220.10.

Shares of Constellation Brands stock traded down $0.16 on Wednesday, reaching $208.02. 6,146 shares of the company traded hands, compared to its average volume of 928,143. The company has a 50 day moving average of $199.61 and a 200 day moving average of $191.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.22 and a quick ratio of 0.71. Constellation Brands, Inc. has a 52 week low of $150.37 and a 52 week high of $228.91. The firm has a market capitalization of $39.94 billion, a PE ratio of 22.47, a PEG ratio of 3.10 and a beta of 0.69.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.15. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, analysts anticipate that Constellation Brands, Inc. will post 8.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Monday, August 12th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.

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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