Alpine Woods Capital Investors LLC decreased its position in shares of Constellation Brands Inc (NYSE:STZ) by 35.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,500 shares of the company’s stock after selling 1,900 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Constellation Brands were worth $698,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after acquiring an additional 193 shares in the last quarter. Hanson McClain Inc. boosted its stake in shares of Constellation Brands by 0.4% during the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after purchasing an additional 3 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Constellation Brands by 609.1% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after purchasing an additional 670 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Constellation Brands by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $155,000 after acquiring an additional 400 shares during the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in Constellation Brands during the second quarter valued at approximately $157,000. Institutional investors and hedge funds own 75.04% of the company’s stock.
In related news, insider William A. Newlands sold 2,935 shares of Constellation Brands stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas J. Mullin sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The disclosure for this sale can be found here. Insiders sold a total of 73,662 shares of company stock worth $15,564,585 over the last three months. Insiders own 15.59% of the company’s stock.
A number of research firms recently commented on STZ. Royal Bank Of Canada reissued a “buy” rating and set a $226.00 target price on shares of Constellation Brands in a research report on Sunday, November 12th. Citigroup reiterated a “neutral” rating and issued a $232.00 price objective (up previously from $211.00) on shares of Constellation Brands in a research note on Monday, October 9th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $237.00 price objective (up previously from $220.00) on shares of Constellation Brands in a research note on Friday, October 6th. Cowen reiterated an “outperform” rating and issued a $243.00 price objective (up previously from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $235.00 price objective (up previously from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $216.00.
Shares of Constellation Brands Inc (STZ) traded down $0.08 during mid-day trading on Thursday, reaching $216.85. 886,442 shares of the company’s stock were exchanged, compared to its average volume of 1,456,030. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01. Constellation Brands Inc has a one year low of $144.00 and a one year high of $227.20. The stock has a market capitalization of $42,560.00, a P/E ratio of 26.28, a PEG ratio of 1.40 and a beta of 0.08.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.30. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. Constellation Brands’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 earnings per share. analysts anticipate that Constellation Brands Inc will post 8.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is 11.89%.
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Constellation Brands 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.
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