Texas Yale Capital Corp. purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,008 shares of the company’s stock, valued at approximately $395,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in Constellation Brands by 210.9% in 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 in the last quarter. Mosaic Family Wealth LLC bought a new stake in Constellation Brands in the first quarter worth approximately $27,000. Gradient Investments LLC grew its position in Constellation Brands by 265.3% in the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock worth $35,000 after acquiring an additional 130 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new stake in Constellation Brands in the first quarter worth approximately $33,000. Finally, Global Retirement Partners LLC grew its position in Constellation Brands by 74.4% in the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
Several analysts have commented on STZ shares. Barclays reissued a “buy” rating and issued a $238.00 target price on shares of Constellation Brands in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Citigroup set a $210.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Monday, July 1st. Bank of America set a $221.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Monday, July 1st. Finally, Jefferies Financial Group boosted their target price on shares of Constellation Brands from $264.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Ten investment analysts have rated the stock with a hold rating, sixteen 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 price target of $225.35.
In related news, CMO James A. Jr. Sabia sold 4,275 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total transaction of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares in the company, valued at approximately $8,468,281.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Robert Sands sold 23,611 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $206.48, for a total transaction of $4,875,199.28. Following the transaction, the chairman now owns 570,857 shares of the company’s stock, valued at $117,870,553.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,083 shares of company stock valued at $12,675,054. Corporate insiders own 15.86% of the company’s stock.
Shares of Constellation Brands stock traded down $0.66 on Thursday, reaching $187.51. The stock had a trading volume of 125,123 shares, compared to its average volume of 1,036,244. The business has a 50-day moving average price of $195.57. 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, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $228.91. The company has a market capitalization of $35.76 billion, a PE ratio of 20.21, a P/E/G ratio of 2.80 and a beta of 0.71.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.15. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. Constellation Brands’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 8.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s payout ratio is currently 32.33%.
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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