Murphy Capital Management Inc. lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,900 shares of the company’s stock after selling 125 shares during the period. Murphy Capital Management Inc.’s holdings in Constellation Brands were worth $374,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in STZ. Wisconsin Capital Management LLC grew its holdings in Constellation Brands by 0.3% in the 1st quarter. Wisconsin Capital Management LLC now owns 15,044 shares of the company’s stock worth $2,638,000 after acquiring an additional 50 shares during the last quarter. Trustcore Financial Services LLC grew its holdings in Constellation Brands by 6.7% in the 1st quarter. Trustcore Financial Services LLC now owns 814 shares of the company’s stock worth $143,000 after acquiring an additional 51 shares during the last quarter. HCR Wealth Advisors grew its holdings in Constellation Brands by 0.8% in the 1st quarter. HCR Wealth Advisors now owns 6,187 shares of the company’s stock worth $993,000 after acquiring an additional 52 shares during the last quarter. Sky Investment Group LLC grew its holdings in Constellation Brands by 0.6% in the 2nd quarter. Sky Investment Group LLC now owns 9,618 shares of the company’s stock worth $1,894,000 after acquiring an additional 55 shares during the last quarter. Finally, Confluence Wealth Management LLC grew its holdings in Constellation Brands by 1.2% in the 1st quarter. Confluence Wealth Management LLC now owns 4,707 shares of the company’s stock worth $825,000 after acquiring an additional 58 shares during the last quarter. 70.55% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on STZ. Deutsche Bank lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and raised their price target for the stock from $191.00 to $194.00 in a report on Friday, April 5th. Macquarie set a $220.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Wednesday, June 5th. SunTrust Banks raised their target price on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Monday, July 1st. Morgan Stanley raised their target price on shares of Constellation Brands from $207.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 2nd. Finally, UBS Group raised their target price on shares of Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of “Buy” and a consensus price target of $225.35.
NYSE STZ traded down $0.86 during trading hours on Friday, reaching $192.74. 818,814 shares of the company’s stock traded hands, compared to its average volume of 931,446. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $228.91. The company has a market cap of $37.71 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.95 and a beta of 0.71. The business’s 50-day simple moving average is $195.28. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, June 28th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.15. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $2.20 EPS. Constellation Brands’s revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that Constellation Brands, Inc. will post 8.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, August 12th. This represents a $3.00 dividend on an annualized basis and a yield of 1.56%. Constellation Brands’s dividend payout ratio (DPR) is currently 32.33%.
In related news, Vice Chairman Richard Sands sold 23,984 shares of Constellation Brands stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $206.47, for a total transaction of $4,951,976.48. Following the completion of the transaction, the insider now directly owns 173,860 shares of the company’s stock, valued at approximately $35,896,874.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the transaction, the director now directly owns 27,630 shares of the company’s stock, valued at $5,452,780.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,083 shares of company stock valued at $12,675,054. 15.86% of the stock is currently owned by corporate insiders.
Constellation Brands Company 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. 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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