Sequoia Financial Advisors LLC lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,193 shares of the company’s stock after selling 75 shares during the period. Sequoia Financial Advisors LLC’s holdings in Constellation Brands were worth $235,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Comerica Securities Inc. increased its position in Constellation Brands by 7.7% in the 4th quarter. Comerica Securities Inc. now owns 4,330 shares of the company’s stock valued at $696,000 after acquiring an additional 310 shares during the period. Geode Capital Management LLC increased its position in Constellation Brands by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,937,070 shares of the company’s stock valued at $310,909,000 after acquiring an additional 120,139 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Constellation Brands in the 1st quarter valued at approximately $202,000. First Manhattan Co. increased its position in Constellation Brands by 19.7% in the 1st quarter. First Manhattan Co. now owns 383 shares of the company’s stock valued at $67,000 after acquiring an additional 63 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Constellation Brands by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the company’s stock valued at $1,543,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 71.37% of the company’s stock.
Several analysts recently commented on the company. Macquarie set a $220.00 target price on Constellation Brands and gave the company a “hold” rating in a research report on Wednesday, June 5th. Citigroup set a $210.00 target price on Constellation Brands and gave the company a “hold” rating in a research report on Monday, July 1st. Bank of America set a $221.00 target price on Constellation Brands and gave the company a “buy” rating in a research report on Monday, July 1st. Barclays restated a “buy” rating and issued a $238.00 target price on shares of Constellation Brands in a research report on Tuesday, July 2nd. Finally, Morgan Stanley raised their target price on Constellation Brands from $207.00 to $217.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and an average target price of $223.83.
NYSE STZ traded down $0.64 on Wednesday, reaching $195.89. 12,171 shares of the stock traded hands, compared to its average volume of 2,021,398. The stock’s fifty day moving average price is $196.84. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22. The company has a market capitalization of $37.19 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.91 and a beta of 0.71. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $228.91.
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. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. Research analysts predict that Constellation Brands, Inc. will post 8.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders 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 dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s dividend payout ratio is presently 10.02%.
In other news, CMO James A. Jr. Sabia sold 4,275 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total transaction of $832,342.50. Following the completion of the sale, the chief marketing officer now directly owns 43,494 shares of the company’s stock, valued at approximately $8,468,281.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the sale, 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. Company insiders own 15.86% of the company’s stock.
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. 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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