Investors sold shares of Constellation Brands, Inc. (NYSE:STZ) on strength during trading on Tuesday. $89.48 million flowed into the stock on the tick-up and $148.49 million flowed out of the stock on the tick-down, for a money net flow of $59.01 million out of the stock. Of all equities tracked, Constellation Brands had the 20th highest net out-flow for the day. Constellation Brands traded up $3.70 for the day and closed at $204.00
Several brokerages have commented on STZ. ValuEngine raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Friday, October 12th. SunTrust Banks downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the company from $260.00 to $220.00 in a report on Monday, September 10th. Morgan Stanley set a $255.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Friday, October 5th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $260.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, September 27th. Finally, Deutsche Bank raised their price target on shares of Constellation Brands from $233.00 to $245.00 and gave the company a “buy” rating in a report on Friday, October 5th. Two 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. The company has a consensus rating of “Buy” and a consensus target price of $246.96.
The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66. The stock has a market cap of $38.14 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.95 and a beta of 0.08.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.27. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $2.47 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 9.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 10.67%.
In related news, VP Thomas Michael Kane sold 4,419 shares of Constellation Brands stock in a transaction on Friday, October 19th. The shares were sold at an average price of $223.83, for a total value of $989,104.77. Following the transaction, the vice president now owns 8,499 shares in the company, valued at approximately $1,902,331.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Sands sold 136,547 shares of Constellation Brands stock in a transaction on Friday, October 19th. The stock was sold at an average price of $223.62, for a total transaction of $30,534,640.14. Following the completion of the transaction, the chief executive officer now owns 737,607 shares in the company, valued at approximately $164,943,677.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 578,723 shares of company stock worth $129,438,449. 15.80% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in Constellation Brands by 3.0% in the 2nd quarter. BlackRock Inc. now owns 11,987,700 shares of the company’s stock worth $2,623,747,000 after purchasing an additional 345,735 shares during the period. FMR LLC raised its position in Constellation Brands by 6.0% in the 2nd quarter. FMR LLC now owns 5,969,243 shares of the company’s stock worth $1,306,489,000 after purchasing an additional 337,338 shares during the period. Jennison Associates LLC raised its position in Constellation Brands by 344.8% in the 2nd quarter. Jennison Associates LLC now owns 2,101,846 shares of the company’s stock worth $460,031,000 after purchasing an additional 1,629,361 shares during the period. Bank of America Corp DE raised its position in Constellation Brands by 17.3% in the 2nd quarter. Bank of America Corp DE now owns 2,001,752 shares of the company’s stock worth $438,124,000 after purchasing an additional 295,598 shares during the period. Finally, American Century Companies Inc. raised its position in Constellation Brands by 13.2% in the 3rd quarter. American Century Companies Inc. now owns 1,961,154 shares of the company’s stock worth $422,864,000 after purchasing an additional 228,474 shares during the period. Institutional investors own 73.90% of the company’s stock.
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Constellation Brands Company Profile (NYSE:STZ)
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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