Providence Capital Advisors LLC raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,929 shares of the company’s stock after acquiring an additional 200 shares during the period. Providence Capital Advisors LLC’s holdings in Constellation Brands were worth $2,152,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mosaic Family Wealth LLC bought a new stake in shares of Constellation Brands during the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. grew its holdings in shares of Constellation Brands by 2,750.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Constellation Brands by 265.3% during the 2nd quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the last quarter. Next Capital Management LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $35,000. Finally, Global Retirement Partners LLC increased its position in Constellation Brands by 74.4% during the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after purchasing an additional 90 shares in the last quarter. 72.30% of the stock is owned by hedge funds and other institutional investors.
NYSE STZ traded down $1.61 on Wednesday, reaching $206.57. The company had a trading volume of 44,035 shares, compared to its average volume of 928,143. The firm has a market cap of $39.94 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 3.10 and a beta of 0.69. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.22 and a quick ratio of 0.71. Constellation Brands, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $228.91. The business has a 50 day moving average of $199.61 and a two-hundred day moving average of $191.93.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.15. The firm had revenue of $2.28 billion for 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 business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 8.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, August 12th. Constellation Brands’s dividend payout ratio is currently 32.33%.
In related news, Director Jeremy S. G. Fowden sold 10,213 shares of the business’s stock in a transaction 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 transaction, the director now owns 27,630 shares in the company, valued at $5,452,780.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the transaction, the insider now owns 173,379 shares in the company, valued at approximately $35,468,142.03. The disclosure for this sale can be found here. Corporate insiders own 15.86% of the company’s stock.
Several equities analysts recently commented on the stock. Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, August 9th. Macquarie set a $220.00 price target on Constellation Brands and gave the company a “hold” rating in a research note on Wednesday, June 5th. Citigroup set a $210.00 price target on Constellation Brands and gave the company a “hold” rating in a research note on Monday, July 1st. 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, UBS Group boosted their price objective on Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $220.10.
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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