Tocqueville Asset Management L.P. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,460 shares of the company’s stock after purchasing an additional 3,170 shares during the period. Tocqueville Asset Management L.P.’s holdings in Constellation Brands were worth $7,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance raised its holdings in shares of Constellation Brands by 14.1% during the third quarter. Independent Advisor Alliance now owns 14,787 shares of the company’s stock valued at $2,322,000 after purchasing an additional 1,825 shares during the last quarter. New England Research & Management Inc. purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $634,000. River Wealth Advisors LLC raised its holdings in shares of Constellation Brands by 14.7% during the third quarter. River Wealth Advisors LLC now owns 9,316 shares of the company’s stock valued at $2,009,000 after purchasing an additional 1,197 shares during the last quarter. Braun Stacey Associates Inc. raised its holdings in shares of Constellation Brands by 1.5% during the third quarter. Braun Stacey Associates Inc. now owns 73,650 shares of the company’s stock valued at $15,880,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Ardevora Asset Management LLP raised its holdings in shares of Constellation Brands by 8.4% during the third quarter. Ardevora Asset Management LLP now owns 129,566 shares of the company’s stock valued at $27,937,000 after purchasing an additional 10,050 shares during the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

STZ has been the subject of several recent research reports. Deutsche Bank cut their target price on shares of Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Bank of America cut their target price on shares of Constellation Brands from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Cann cut their target price on shares of Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Pivotal Research restated a “buy” rating and set a $265.00 target price on shares of Constellation Brands in a research report on Wednesday, August 15th. Finally, Jefferies Financial Group initiated coverage on shares of Constellation Brands in a research report on Friday, September 7th. They set a “buy” rating and a $283.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $244.27.

In other Constellation Brands news, CEO Robert Sands sold 151,060 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $223.67, for a total value of $33,787,590.20. Following the completion of the transaction, the chief executive officer now directly owns 737,607 shares in the company, valued at $164,980,557.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard Sands sold 148,773 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the completion of the transaction, the chairman now owns 346,525 shares of the company’s stock, valued at $77,514,177.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 578,723 shares of company stock valued at $129,438,449. Company insiders own 15.80% of the company’s stock.

STZ opened at $188.61 on Friday. The company has a market capitalization of $36.13 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.85 and a beta of 0.05. Constellation Brands, Inc. has a 1-year low of $187.34 and a 1-year high of $236.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.66 and a quick ratio of 0.76.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 earnings per share. Equities research analysts anticipate that Constellation Brands, Inc. will post 9.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were given a $0.74 dividend. The ex-dividend date of this dividend was Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.57%. Constellation Brands’s payout ratio is currently 33.94%.

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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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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

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