Cornerstone Wealth Management LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 271.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,346 shares of the company’s stock after buying an additional 82,100 shares during the period. Cornerstone Wealth Management LLC owned 0.06% of Constellation Brands worth $540,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of STZ. Jennison Associates LLC increased its stake in Constellation Brands by 344.8% during the 2nd quarter. Jennison Associates LLC now owns 2,101,846 shares of the company’s stock worth $460,031,000 after buying an additional 1,629,361 shares in the last quarter. Standard Life Aberdeen plc increased its stake in Constellation Brands by 229.3% during the 2nd quarter. Standard Life Aberdeen plc now owns 748,508 shares of the company’s stock worth $164,208,000 after buying an additional 521,174 shares in the last quarter. BlackRock Inc. grew its position in shares of Constellation Brands by 3.0% in the second quarter. BlackRock Inc. now owns 11,987,700 shares of the company’s stock valued at $2,623,747,000 after purchasing an additional 345,735 shares in the last quarter. FMR LLC grew its position in shares of Constellation Brands by 6.0% in the second quarter. FMR LLC now owns 5,969,243 shares of the company’s stock valued at $1,306,489,000 after purchasing an additional 337,338 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Constellation Brands by 17.3% in the second quarter. Bank of America Corp DE now owns 2,001,752 shares of the company’s stock valued at $438,124,000 after purchasing an additional 295,598 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.
Shares of Constellation Brands stock opened at $201.32 on Monday. The company has a market capitalization of $38.14 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.95 and a beta of 0.08. Constellation Brands, Inc. has a fifty-two week low of $196.26 and a fifty-two week high of $236.62. The company has a quick ratio of 0.76, a current ratio of 1.66 and a debt-to-equity ratio of 0.80.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.27. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 9.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $2.96 annualized dividend and a yield of 1.47%. Constellation Brands’s payout ratio is 33.94%.
In other Constellation Brands news, Chairman Richard Sands sold 148,773 shares of the company’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the transaction, the chairman now directly owns 346,525 shares in the company, valued at $77,514,177.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Sands sold 151,060 shares of the company’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $223.67, for a total value of $33,787,590.20. Following the transaction, the chief executive officer now owns 737,607 shares in the company, valued at $164,980,557.69. The disclosure for this sale can be found here. Insiders sold 578,723 shares of company stock valued at $129,438,449 over the last quarter. 15.80% of the stock is currently owned by company insiders.
STZ has been the subject of a number of analyst reports. Pivotal Research restated a “buy” rating and issued a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, August 15th. Cann dropped their price target on Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Bank of America dropped their price target on Constellation Brands from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Deutsche Bank dropped their price target on Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Finally, UBS Group lowered Constellation Brands to a “neutral” rating in a research report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $246.96.
Constellation Brands Profile
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 provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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