Cipher Capital LP acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,434 shares of the company’s stock, valued at approximately $7,833,000. Constellation Brands makes up 0.6% of Cipher Capital LP’s investment portfolio, making the stock its 16th largest position.

A number of other institutional investors have also added to or reduced their stakes in STZ. BlackRock Inc. raised its position in Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after buying an additional 11,264,949 shares during the period. State Street Corp raised its position in Constellation Brands by 0.5% in the first quarter. State Street Corp now owns 7,391,582 shares of the company’s stock valued at $1,197,945,000 after buying an additional 39,246 shares during the period. JPMorgan Chase & Co. raised its position in Constellation Brands by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock valued at $741,999,000 after buying an additional 378,620 shares during the period. Egerton Capital UK LLP raised its position in Constellation Brands by 9.3% in the second quarter. Egerton Capital UK LLP now owns 2,717,567 shares of the company’s stock valued at $526,474,000 after buying an additional 231,984 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Constellation Brands by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,045,867 shares of the company’s stock valued at $331,574,000 after buying an additional 71,963 shares during the period. Institutional investors and hedge funds own 74.95% of the company’s stock.

Constellation Brands Inc (NYSE:STZ) opened at 199.885 on Friday. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $200.80. The company has a 50-day moving average of $196.43 and a 200 day moving average of $179.12. The stock has a market cap of $39.04 billion, a P/E ratio of 25.070 and a beta of 0.06.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.36. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. Analysts predict that Constellation Brands Inc will post $8.17 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Monday, August 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.04%. Constellation Brands’s payout ratio is 26.03%.

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Several equities analysts have commented on STZ shares. Morgan Stanley increased their price objective on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. UBS AG increased their price objective on shares of Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research report on Friday, June 30th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $216.00 price objective (up previously from $215.00) on shares of Constellation Brands in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus price target of $200.53.

In other news, VP Thomas J. Mullin sold 23,827 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares of the company’s stock, valued at approximately $15,205,387.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the transaction, the director now directly owns 22,820 shares in the company, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,118 shares of company stock worth $21,052,835. Corporate insiders own 15.59% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

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

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