Advisory Services Network LLC reduced its stake in shares of Constellation Brands Inc. (NYSE:STZ) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,751 shares of the company’s stock after selling 128 shares during the period. Advisory Services Network LLC’s holdings in Constellation Brands were worth $951,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new position in shares of Constellation Brands during the first quarter valued at $576,000. Advisor Partners LLC raised its position in shares of Constellation Brands by 50.8% in the first quarter. Advisor Partners LLC now owns 2,935 shares of the company’s stock valued at $443,000 after buying an additional 989 shares during the last quarter. Palisade Capital Management LLC NJ raised its position in shares of Constellation Brands by 243.2% in the first quarter. Palisade Capital Management LLC NJ now owns 20,000 shares of the company’s stock valued at $3,022,000 after buying an additional 14,172 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Constellation Brands during the first quarter valued at $165,000. Finally, Columbia Partners L L C Investment Management raised its position in shares of Constellation Brands by 0.4% in the first quarter. Columbia Partners L L C Investment Management now owns 65,585 shares of the company’s stock valued at $9,909,000 after buying an additional 257 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors.
Constellation Brands Inc. (NYSE:STZ) traded down 0.59% on Monday, reaching $165.51. 1,240,290 shares of the company’s stock traded hands. The firm’s 50-day moving average is $165.21 and its 200 day moving average is $159.65. The firm has a market cap of $33.19 billion, a PE ratio of 29.82 and a beta of 0.63. Constellation Brands Inc. has a 12 month low of $129.60 and a 12 month high of $168.68.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.02. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The firm had revenue of $1.87 billion for the quarter. During the same quarter in the prior year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Equities analysts predict that Constellation Brands Inc. will post $6.30 EPS for the current year.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price target on the stock in a research report on Friday, July 1st. Credit Suisse Group AG assumed coverage on shares of Constellation Brands in a research report on Thursday, September 15th. They set a “neutral” rating and a $178.00 price target on the stock. Credit Agricole SA reaffirmed an “outperform” rating on shares of Constellation Brands in a research report on Monday, August 22nd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Constellation Brands in a research report on Thursday, June 30th. Finally, Susquehanna reaffirmed a “hold” rating and set a $155.00 price target on shares of Constellation Brands in a research report on Tuesday, June 28th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands has an average rating of “Buy” and an average target price of $175.27.
In related news, VP Thomas Michael Kane sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $163.26, for a total value of $1,142,820.00. Following the transaction, the vice president now directly owns 8,764 shares in the company, valued at $1,430,810.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Eric Klein sold 14,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $166.27, for a total transaction of $2,377,661.00. Following the completion of the transaction, the chief financial officer now owns 36,152 shares in the company, valued at $6,010,993.04. The disclosure for this sale can be found here. Insiders own 10.63% 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 and wine the United States and Canada. 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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