American Century Companies Inc. decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,914,525 shares of the company’s stock after selling 42,390 shares during the period. American Century Companies Inc.’s holdings in Constellation Brands were worth $335,674,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in Constellation Brands by 210.9% during the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after acquiring an additional 97 shares during the period. Mosaic Family Wealth LLC bought a new stake in Constellation Brands during the first quarter worth $27,000. Quantamental Technologies LLC bought a new stake in Constellation Brands during the fourth quarter worth $32,000. Bay Harbor Wealth Management LLC bought a new stake in Constellation Brands during the first quarter worth $33,000. Finally, CNB Bank bought a new stake in Constellation Brands during the fourth quarter worth $34,000. 70.84% of the stock is currently owned by institutional investors.
STZ has been the topic of a number of recent analyst reports. Barclays set a $226.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Friday, April 5th. Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Friday, April 5th. Bank of America reiterated a “buy” rating and set a $216.00 price target (up from $188.00) on shares of Constellation Brands in a report on Friday, April 5th. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, February 21st. Finally, Morgan Stanley set a $233.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Thursday, February 14th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Constellation Brands has an average rating of “Buy” and an average target price of $224.13.
In other news, VP Thomas Michael Kane sold 3,071 shares of Constellation Brands stock in a transaction on Friday, April 5th. The stock was sold at an average price of $190.08, for a total value of $583,735.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Eric Klein sold 25,980 shares of Constellation Brands stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the completion of the transaction, the executive vice president now owns 69,852 shares of the company’s stock, valued at $13,876,798.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,921 shares of company stock worth $16,404,441. Corporate insiders own 15.86% of the company’s stock.
Shares of STZ opened at $189.34 on Friday. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.65 and a beta of 0.68. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $234.26.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.12. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. Research analysts anticipate that Constellation Brands, Inc. will post 8.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.75 dividend. The ex-dividend date was Thursday, May 9th. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. Constellation Brands’s payout ratio is presently 10.02%.
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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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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