Concert Wealth Management Inc. bought a new stake in Constellation Brands Inc. (NYSE:STZ) during the second quarter, Holdings Channel reports. The fund bought 1,820 shares of the company’s stock, valued at approximately $300,000.
Other large investors also recently bought and sold shares of the company. State Street Corp boosted its stake in Constellation Brands by 4.7% in the first quarter. State Street Corp now owns 7,326,780 shares of the company’s stock valued at $1,107,013,000 after buying an additional 330,670 shares in the last quarter. Hanlon Investment Management Inc. acquired a new position in shares of Constellation Brands during the first quarter valued at about $4,193,000. Cupps Capital Management LLC acquired a new position in shares of Constellation Brands during the first quarter valued at about $1,719,000. BB&T Securities LLC raised its position in shares of Constellation Brands by 54.5% in the first quarter. BB&T Securities LLC now owns 4,018 shares of the company’s stock valued at $607,000 after buying an additional 1,418 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Constellation Brands during the first quarter valued at about $1,390,000. 75.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc. (NYSE:STZ) traded up 0.31% during trading on Friday, reaching $169.46. 890,942 shares of the company’s stock traded hands. The stock has a market cap of $34.07 billion, a P/E ratio of 29.16 and a beta of 0.63. The company has a 50 day moving average price of $166.07 and a 200-day moving average price of $160.94. Constellation Brands Inc. has a one year low of $130.23 and a one year high of $173.55.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The business earned $2.02 billion during the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. On average, equities research analysts expect that Constellation Brands Inc. will post $6.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 4th. Constellation Brands’s payout ratio is 27.49%.
Several brokerages recently issued reports on STZ. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price target for the company in a research note on Friday, July 1st. Pivotal Research reiterated a “buy” rating and issued a $200.00 price target on shares of Constellation Brands in a research note on Thursday, October 6th. Citigroup Inc. reiterated a “neutral” rating and issued a $191.00 price target (up from $180.00) on shares of Constellation Brands in a research note on Sunday, October 9th. Morgan Stanley reiterated an “overweight” rating and issued a $194.00 price target (up from $191.00) on shares of Constellation Brands in a research note on Saturday, October 8th. Finally, Credit Suisse Group AG began coverage on shares of Constellation Brands in a research note on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price target for the company. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $181.25.
In other news, EVP William F. Hackett sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the transaction, the executive vice president now owns 54,934 shares in the company, valued at $9,045,981.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas Michael Kane sold 7,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the transaction, the vice president now owns 8,764 shares in the company, valued at approximately $1,430,810.64. The disclosure for this sale can be found here. Company insiders own 10.63% of the company’s stock.
About Constellation Brands
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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