Constellation Brands Inc (NYSE:STZ) Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total value of $520,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.30. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. Constellation Brands’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s dividend payout ratio is currently 26.03%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DSAM Partners London Ltd purchased a new position in Constellation Brands in the second quarter worth $21,659,000. Brighton Jones LLC purchased a new position in Constellation Brands in the second quarter worth $245,000. Cipher Capital LP purchased a new position in Constellation Brands in the second quarter worth $7,833,000. Oak Ridge Investments LLC grew its holdings in Constellation Brands by 24.4% in the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock worth $6,956,000 after purchasing an additional 7,052 shares during the last quarter. Finally, United Capital Financial Advisers LLC grew its holdings in Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock worth $1,477,000 after purchasing an additional 797 shares during the last quarter. 74.96% of the stock is currently owned by institutional investors and hedge funds.
STZ has been the topic of several analyst reports. Morgan Stanley increased their target price on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Macquarie started coverage on Constellation Brands in a research report on Thursday, September 14th. They set an “outperform” rating and a $227.00 price objective for the company. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $200.00 price objective on Constellation Brands and gave the stock a “hold” rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $216.00.
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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