Crestwood Capital Management L.P. increased its position in Constellation Brands Inc (NYSE:STZ) by 19.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 68,904 shares of the company’s stock after purchasing an additional 11,124 shares during the period. Constellation Brands accounts for about 7.4% of Crestwood Capital Management L.P.’s holdings, making the stock its 2nd biggest holding. Crestwood Capital Management L.P.’s holdings in Constellation Brands were worth $13,743,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. lifted its holdings in shares of Constellation Brands by 12.9% in the 3rd quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock valued at $634,000 after purchasing an additional 362 shares during the last quarter. DSAM Partners London Ltd acquired a new position in Constellation Brands in the 2nd quarter valued at about $21,659,000. Brighton Jones LLC acquired a new position in Constellation Brands in the 2nd quarter valued at about $245,000. Cipher Capital LP acquired a new position in Constellation Brands in the 2nd quarter valued at about $7,833,000. Finally, D L Carlson Investment Group Inc. increased its position in Constellation Brands by 22.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock valued at $5,310,000 after acquiring an additional 5,005 shares during the period. 75.04% of the stock is owned by institutional investors and hedge funds.
STZ has been the topic of several recent research reports. Morgan Stanley boosted their price target on Constellation Brands from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, October 6th. Royal Bank Of Canada restated a “buy” rating and issued a $226.00 price target on shares of Constellation Brands in a research report on Sunday, November 12th. Evercore ISI restated an “outperform” rating and issued a $235.00 price target (up previously from $230.00) on shares of Constellation Brands in a research report on Friday, October 6th. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Finally, Citigroup restated a “neutral” rating and issued a $232.00 price target (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $216.00.
Constellation Brands Inc (NYSE STZ) traded up $0.39 during midday trading on Tuesday, reaching $216.73. The company’s stock had a trading volume of 664,913 shares, compared to its average volume of 1,462,012. 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 52 week low of $144.00 and a 52 week high of $227.20. The firm has a market cap of $42,759.69, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.41 and a beta of 0.08.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. research analysts predict that Constellation Brands Inc will post 8.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.96%. The ex-dividend date was Monday, November 6th. Constellation Brands’s payout ratio is 23.85%.
In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the transaction, the vice president now owns 72,924 shares in the company, valued at approximately $15,825,237.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William A. Newlands sold 2,935 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $210.10, for a total value of $616,643.50. The disclosure for this sale can be found here. Insiders have sold a total of 73,662 shares of company stock worth $15,564,585 in the last quarter. 15.59% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: “Constellation Brands Inc (STZ) Shares Bought by Crestwood Capital Management L.P.” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/12/05/constellation-brands-inc-stz-shares-bought-by-crestwood-capital-management-l-p.html.
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.
Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands Inc (NYSE:STZ).
Receive News & Ratings for Constellation Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.