Sterling Capital Management LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 25.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,305 shares of the company’s stock after selling 1,127 shares during the period. Sterling Capital Management LLC’s holdings in Constellation Brands were worth $640,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hanson McClain Inc. grew its stake in Constellation Brands by 0.4% during the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after acquiring an additional 3 shares in the last quarter. Financial Architects Inc grew its stake in shares of Constellation Brands by 1.4% in the 2nd quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock valued at $344,000 after buying an additional 25 shares during the period. Welch Group LLC grew its stake in shares of Constellation Brands by 2.9% in the 2nd quarter. Welch Group LLC now owns 885 shares of the company’s stock valued at $171,000 after buying an additional 25 shares during the period. Ray Gerald L & Associates Ltd. grew its stake in shares of Constellation Brands by 0.7% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock valued at $897,000 after buying an additional 30 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings in shares of Constellation Brands by 0.8% in the 2nd quarter. LS Investment Advisors LLC now owns 4,958 shares of the company’s stock worth $961,000 after acquiring an additional 39 shares during the last quarter. 75.08% of the stock is owned by institutional investors.
In related news, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Mullin sold 18,227 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now owns 72,924 shares of the company’s stock, valued at approximately $15,825,237.24. 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 90 days. Company insiders own 15.59% of the company’s stock.
STZ has been the topic of several recent analyst reports. Macquarie initiated coverage on shares of Constellation Brands in a report on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price objective on the stock. Royal Bank of Canada restated a “buy” rating and issued a $220.00 price objective on shares of Constellation Brands in a report on Wednesday, August 2nd. Susquehanna Bancshares Inc set a $200.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a report on Thursday, October 5th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $237.00 target price (up from $220.00) on shares of Constellation Brands in a report on Friday, October 6th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $216.00 target price (up from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. One 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 stock has a consensus rating of “Buy” and a consensus target price of $216.00.
Constellation Brands, Inc. (NYSE STZ) traded up $0.54 during mid-day trading on Friday, hitting $218.67. 672,100 shares of the stock traded hands, compared to its average volume of 1,489,123. Constellation Brands, Inc. has a one year low of $144.00 and a one year high of $219.56. The firm has a market cap of $42,667.75, a PE ratio of 26.44, a PEG 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 (NYSE:STZ) last released its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the business earned $1.77 EPS. The business’s revenue was up 3.1% on a year-over-year basis. equities research analysts forecast that Constellation Brands, Inc. will post 8.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is presently 23.85%.
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About Constellation Brands
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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