Pinnacle Financial Partners Inc Has $1.90 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Pinnacle Financial Partners Inc increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,381 shares of the company’s stock after purchasing an additional 169 shares during the period. Pinnacle Financial Partners Inc’s holdings in Constellation Brands were worth $1,902,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands in the second quarter worth about $32,000. Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands in the second quarter worth about $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

STZ has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Bank of America reissued a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. UBS Group lowered their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Trading Up 1.0 %

NYSE STZ opened at $240.71 on Thursday. The stock has a market capitalization of $43.70 billion, a P/E ratio of 77.90, a P/E/G ratio of 1.68 and a beta of 0.90. The business has a 50 day simple moving average of $244.61 and a 200 day simple moving average of $248.35. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.68%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,210 shares of company stock worth $31,040,994 in the last three months. Company insiders own 12.19% of the company’s stock.

About Constellation Brands

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.