Successful Portfolios LLC purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,351 shares of the company’s stock, valued at approximately $236,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ellevest Inc. grew its holdings in shares of Constellation Brands by 84.1% during the 2nd quarter. Ellevest Inc. now owns 162 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares during the period. Citizens Financial Group Inc RI grew its holdings in shares of Constellation Brands by 121.1% during the 1st quarter. Citizens Financial Group Inc RI now owns 210 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares during the period. RMR Wealth Builders purchased a new position in shares of Constellation Brands during the 4th quarter worth $36,000. Verus Capital Partners LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth $43,000. Finally, Joseph P. Lucia & Associates LLC boosted its holdings in Constellation Brands by 160.0% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 260 shares of the company’s stock valued at $45,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.
Shares of NYSE STZ opened at $179.69 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. Constellation Brands, Inc. has a fifty-two week low of $104.28 and a fifty-two week high of $212.00. The firm has a market capitalization of $35.66 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.04 and a beta of 0.92. The stock’s 50-day simple moving average is $178.31 and its 200-day simple moving average is $173.55.
Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 1st. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.29. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the company earned $2.21 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 8.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, August 10th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.89%.
A number of brokerages recently commented on STZ. JPMorgan Chase & Co. raised their target price on Constellation Brands from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Guggenheim raised their target price on Constellation Brands from $149.00 to $159.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. UBS Group raised their target price on Constellation Brands from $192.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Barclays restated a “buy” rating on shares of Constellation Brands in a report on Thursday, April 30th. Finally, Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a report on Monday, June 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and a consensus target price of $197.32.
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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