Shell Asset Management Co. Increases Stake in Constellation Brands, Inc. (STZ)

Shell Asset Management Co. grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 61.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,885 shares of the company’s stock after buying an additional 9,454 shares during the quarter. Shell Asset Management Co.’s holdings in Constellation Brands were worth $2,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DSAM Partners London Ltd bought a new position in shares of Constellation Brands during the second quarter valued at approximately $21,659,000. Brighton Jones LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at approximately $245,000. Cipher Capital LP purchased a new stake in shares of Constellation Brands in the second quarter valued at approximately $7,833,000. D L Carlson Investment Group Inc. boosted its holdings in shares of Constellation Brands by 22.3% in the second quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock valued at $5,310,000 after purchasing an additional 5,005 shares during the period. Finally, Oak Ridge Investments LLC boosted its holdings in shares of Constellation Brands by 24.4% in the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock valued at $6,956,000 after purchasing an additional 7,052 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

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Constellation Brands, Inc. (STZ) traded up $0.54 on Friday, reaching $218.67. 672,100 shares of the company’s stock were exchanged, compared to its average volume of 1,489,123. The stock has a market cap of $42,667.75, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.41 and a beta of 0.10. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69. Constellation Brands, Inc. has a twelve month low of $144.00 and a twelve month high of $219.56.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 24.08% and a return on equity of 26.16%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $1.77 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. sell-side analysts forecast that Constellation Brands, Inc. will post 8.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a $0.52 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.95%. Constellation Brands’s dividend payout ratio (DPR) is presently 23.85%.

A number of analysts have weighed in on the company. J P Morgan Chase & Co restated an “overweight” rating and set a $237.00 target price (up previously from $220.00) on shares of Constellation Brands in a report on Friday, October 6th. Citigroup Inc. restated a “neutral” rating and set a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a report on Monday, October 9th. Royal Bank of Canada increased their price objective on Constellation Brands from $222.00 to $226.00 and gave the company an “outperform” rating in a report on Friday, October 6th. Stifel Nicolaus increased their price objective on Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 6th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average target price of $216.00.

In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the transaction, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Insiders sold a total of 86,179 shares of company stock valued at $18,030,434 in the last quarter. 15.59% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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