Wright Investors Service Inc. raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 91.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,959 shares of the company’s stock after acquiring an additional 4,277 shares during the quarter. Wright Investors Service Inc.’s holdings in Constellation Brands were worth $1,764,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in STZ. Jackson Square Partners LLC purchased a new position in Constellation Brands in the first quarter valued at about $395,015,000. BlackRock Inc. grew its stake in shares of Constellation Brands by 14.7% during the first quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after acquiring an additional 1,734,902 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Constellation Brands by 185.9% during the first quarter. Jennison Associates LLC now owns 1,237,096 shares of the company’s stock valued at $216,900,000 after acquiring an additional 804,429 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Constellation Brands by 53.3% during the first quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock valued at $371,831,000 after acquiring an additional 737,613 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its stake in shares of Constellation Brands by 285.0% during the first quarter. Douglas Lane & Associates LLC now owns 264,310 shares of the company’s stock valued at $46,342,000 after acquiring an additional 195,650 shares in the last quarter. 71.37% of the stock is currently owned by institutional investors.
NYSE:STZ traded up $0.61 during mid-day trading on Thursday, reaching $193.97. The stock had a trading volume of 17,184 shares, compared to its average volume of 944,738. The stock has a market cap of $36.99 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.89 and a beta of 0.71. Constellation Brands, Inc. has a 1-year low of $150.37 and a 1-year high of $228.91. The business has a 50 day simple moving average of $197.04. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.94.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS 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 the consensus estimate of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. As a group, analysts predict that Constellation Brands, Inc. will post 8.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. Constellation Brands’s dividend payout ratio (DPR) is 32.33%.
In other Constellation Brands news, CMO James A. Jr. Sabia sold 4,275 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total value 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 $8,468,281.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the transaction, the director now owns 27,630 shares of the company’s stock, valued at $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised their target price on Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Barclays restated a “buy” rating and set a $238.00 target price on shares of Constellation Brands in a research note on Tuesday, July 2nd. Bank of America set a $221.00 target price on Constellation Brands and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, UBS Group raised their target price on Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Constellation Brands has an average rating of “Buy” and an average target price of $223.83.
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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