U S Global Investors Inc. reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,342 shares of the company’s stock after selling 353 shares during the quarter. U S Global Investors Inc.’s holdings in Constellation Brands were worth $411,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Versant Capital Management Inc raised its position in shares of Constellation Brands by 210.9% in the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock valued at $25,000 after purchasing an additional 97 shares during the period. Bay Harbor Wealth Management LLC bought a new position in shares of Constellation Brands in the first quarter valued at about $33,000. Quantamental Technologies LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at about $32,000. Global Retirement Partners LLC raised its position in shares of Constellation Brands by 74.4% in the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock valued at $37,000 after purchasing an additional 90 shares during the period. Finally, CNB Bank acquired a new position in shares of Constellation Brands in the fourth quarter valued at about $34,000. 70.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CMO James A. Jr. Sabia sold 4,275 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total value of $832,342.50. Following the sale, the chief marketing officer now directly owns 43,494 shares in the company, valued at approximately $8,468,281.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas Michael Kane sold 3,071 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $190.08, for a total transaction of $583,735.68. The disclosure for this sale can be found here. Insiders have sold 80,921 shares of company stock worth $16,404,441 over the last quarter. Corporate insiders own 15.86% of the company’s stock.
Constellation Brands stock traded up $1.43 during trading hours on Tuesday, reaching $193.39. 29,733 shares of the stock were exchanged, compared to its average volume of 1,872,912. The company has a market capitalization of $36.73 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 2.56 and a beta of 0.69. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 0.92. Constellation Brands, Inc. has a twelve month low of $150.37 and a twelve month high of $234.26.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. On average, sell-side analysts expect that Constellation Brands, Inc. will post 8.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, May 9th. Constellation Brands’s dividend payout ratio is presently 32.33%.
Several research firms recently commented on STZ. Morgan Stanley upgraded shares of Constellation Brands to a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Barclays set a $226.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, April 5th. ValuEngine upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group upped their price target on shares of Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a research note on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $224.13.
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About Constellation Brands
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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