Intl Fcstone Inc. bought a new position in Constellation Brands, Inc. (NYSE:STZ) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,850 shares of the company’s stock, valued at approximately $364,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in STZ. Advisory Services Network LLC increased its holdings in shares of Constellation Brands by 17.9% during the 1st quarter. Advisory Services Network LLC now owns 9,705 shares of the company’s stock worth $1,702,000 after buying an additional 1,470 shares during the last quarter. B. Riley Wealth Management Inc. acquired a new position in shares of Constellation Brands in the first quarter worth $796,000. Sound View Wealth Advisors LLC grew its stake in shares of Constellation Brands by 10.7% in the first quarter. Sound View Wealth Advisors LLC now owns 1,732 shares of the company’s stock worth $304,000 after acquiring an additional 168 shares in the last quarter. Successful Portfolios LLC acquired a new position in shares of Constellation Brands in the first quarter worth $201,000. Finally, Weybosset Research & Management LLC acquired a new position in shares of Constellation Brands in the first quarter worth $237,000. 70.75% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman Richard Sands sold 23,984 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $206.47, for a total transaction of $4,951,976.48. Following the transaction, the insider now directly owns 173,860 shares in the company, valued at $35,896,874.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert Sands sold 23,611 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total transaction of $4,875,199.28. Following the transaction, the chairman now owns 570,857 shares in the company, valued at $117,870,553.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,083 shares of company stock worth $12,675,054. 15.86% of the stock is currently owned by company insiders.
STZ traded up $1.49 on Friday, reaching $204.50. The company had a trading volume of 178,856 shares, compared to its average volume of 1,423,576. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $228.91. The company has a market cap of $39.06 billion, a PE ratio of 22.04, a PEG ratio of 3.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.22 and a quick ratio of 0.71. The stock’s 50-day simple moving average is $193.69.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.15. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. Constellation Brands’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. On average, equities analysts expect that Constellation Brands, Inc. will post 8.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. Constellation Brands’s dividend payout ratio is presently 32.33%.
Several equities analysts have commented on STZ shares. UBS Group set a $54.00 price target on shares of Westlake Chemical and gave the stock a “sell” rating in a research note on Tuesday, July 2nd. Bank of America set a $221.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Monday, July 1st. Citigroup set a $210.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Monday, July 1st. Macquarie set a $220.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Wednesday, June 5th. Finally, SunTrust Banks lifted their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $225.35.
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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