Fayez Sarofim & Co increased its stake in shares of Constellation Brands (NYSE:STZ) by 14.4% during the 1st quarter, Holdings Channel reports. The fund owned 401,235 shares of the company’s stock after purchasing an additional 50,381 shares during the quarter. Fayez Sarofim & Co’s holdings in Constellation Brands were worth $91,449,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Jacobi Capital Management LLC lifted its holdings in Constellation Brands by 103.6% in the 1st quarter. Jacobi Capital Management LLC now owns 507 shares of the company’s stock worth $116,000 after buying an additional 258 shares during the period. Bessemer Group Inc. lifted its holdings in Constellation Brands by 153.1% in the 4th quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after buying an additional 320 shares during the period. Cerebellum GP LLC purchased a new stake in Constellation Brands in the 4th quarter worth approximately $134,000. Signaturefd LLC purchased a new stake in Constellation Brands in the 1st quarter worth approximately $137,000. Finally, Trustcore Financial Services LLC purchased a new stake in Constellation Brands in the 4th quarter worth approximately $142,000. Institutional investors and hedge funds own 72.49% of the company’s stock.
In related news, EVP David Eric Klein sold 17,900 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $228.43, for a total transaction of $4,088,897.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Stenzel sold 7,971 shares of the firm’s stock in a transaction that occurred on Wednesday, April 25th. The shares were sold at an average price of $225.50, for a total value of $1,797,460.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,269 shares of company stock valued at $8,048,757. 15.59% of the stock is owned by corporate insiders.
Constellation Brands opened at $215.92 on Wednesday, according to Marketbeat.com. The company has a market capitalization of $41.98 billion, a PE ratio of 24.76, a PEG ratio of 1.23 and a beta of 0.09. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.79 and a quick ratio of 0.71. Constellation Brands has a 52 week low of $176.21 and a 52 week high of $236.62.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, March 29th. The company reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.16. Constellation Brands had a return on equity of 22.28% and a net margin of 27.85%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company earned $1.48 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. research analysts expect that Constellation Brands will post 9.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Wednesday, May 9th. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.52. Constellation Brands’s dividend payout ratio (DPR) is 33.94%.
Several research firms have weighed in on STZ. Royal Bank of Canada reiterated a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a report on Monday, April 2nd. Pivotal Research increased their price objective on Constellation Brands from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, March 29th. Deutsche Bank increased their price objective on Constellation Brands from $253.00 to $256.00 and gave the stock a “buy” rating in a report on Friday, March 23rd. ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Constellation Brands presently has a consensus rating of “Buy” and a consensus price target of $245.77.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.
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