Sigma Planning Corp increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 24.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,396 shares of the company’s stock after acquiring an additional 1,434 shares during the period. Sigma Planning Corp’s holdings in Constellation Brands were worth $1,457,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in STZ. Kavar Capital Partners LLC increased its position in Constellation Brands by 5.2% in the 2nd quarter. Kavar Capital Partners LLC now owns 12,027 shares of the company’s stock worth $2,369,000 after purchasing an additional 595 shares during the last quarter. Executive Wealth Management LLC increased its holdings in shares of Constellation Brands by 95.2% during the 2nd quarter. Executive Wealth Management LLC now owns 244 shares of the company’s stock valued at $48,000 after acquiring an additional 119 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in shares of Constellation Brands during the 2nd quarter valued at about $54,000. Jacobs & Co. CA increased its holdings in shares of Constellation Brands by 10.5% during the 2nd quarter. Jacobs & Co. CA now owns 27,712 shares of the company’s stock valued at $5,457,000 after acquiring an additional 2,635 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Constellation Brands by 412.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 159,965 shares of the company’s stock valued at $30,282,000 after acquiring an additional 128,734 shares during the last quarter. 71.37% of the stock is owned by hedge funds and other institutional investors.
Shares of STZ stock traded up $4.39 during mid-day trading on Friday, reaching $198.79. The stock had a trading volume of 955,600 shares, compared to its average volume of 964,810. The firm’s 50 day simple moving average is $197.45 and its 200 day simple moving average is $188.44. 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, Inc. has a one year low of $150.37 and a one year high of $228.91. The firm has a market cap of $37.04 billion, a PE ratio of 21.42, a P/E/G ratio of 2.90 and a beta of 0.71.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, June 28th. The company reported $2.21 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.15. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company earned $2.20 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 8.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a $0.75 dividend. The ex-dividend date is Monday, August 12th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.51%. Constellation Brands’s dividend payout ratio is currently 32.33%.
In other Constellation Brands news, CMO James A. Jr. Sabia sold 4,275 shares of the firm’s 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 sale, the chief marketing officer now owns 43,494 shares in the company, valued at approximately $8,468,281.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by company insiders.
A number of brokerages have recently commented on STZ. Evercore ISI set a $220.00 price objective on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. SunTrust Banks increased their price objective on Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. UBS Group increased their price objective on Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Barclays reissued a “buy” rating and set a $238.00 price objective on shares of Constellation Brands in a report on Tuesday, July 2nd. Finally, Macquarie set a $220.00 target price on Constellation Brands and gave the company a “hold” rating in a report on Wednesday, June 5th. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $223.73.
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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