Stratos Wealth Partners LTD. lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,447 shares of the company’s stock after selling 686 shares during the period. Stratos Wealth Partners LTD.’s holdings in Constellation Brands were worth $778,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Trust Investment Advisors grew its holdings in shares of Constellation Brands by 1.3% during the first quarter. Trust Investment Advisors now owns 5,498 shares of the company’s stock worth $788,000 after purchasing an additional 68 shares during the last quarter. Enterprise Bank & Trust Co boosted its holdings in Constellation Brands by 0.7% in the second quarter. Enterprise Bank & Trust Co now owns 10,544 shares of the company’s stock valued at $1,845,000 after acquiring an additional 70 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in Constellation Brands by 4.4% in the first quarter. Gateway Investment Advisers LLC now owns 1,676 shares of the company’s stock valued at $240,000 after acquiring an additional 71 shares during the last quarter. Ellevest Inc. boosted its holdings in Constellation Brands by 84.1% in the second quarter. Ellevest Inc. now owns 162 shares of the company’s stock valued at $28,000 after acquiring an additional 74 shares during the last quarter. Finally, Garner Asset Management Corp boosted its holdings in Constellation Brands by 1.5% in the first quarter. Garner Asset Management Corp now owns 5,017 shares of the company’s stock valued at $719,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.
In related news, major shareholder Richard Sands sold 638,407 shares of Constellation Brands stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $180.12, for a total value of $114,989,868.84. Following the sale, the insider now owns 249,763 shares of the company’s stock, valued at approximately $44,987,311.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Robert Sands sold 90,184 shares of Constellation Brands stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $181.20, for a total value of $16,341,340.80. Following the completion of the sale, the chairman now directly owns 644,719 shares in the company, valued at approximately $116,823,082.80. The disclosure for this sale can be found here. In the last three months, insiders sold 1,052,364 shares of company stock worth $189,856,440. 15.77% of the stock is owned by insiders.
STZ has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Constellation Brands from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a report on Thursday, July 9th. HSBC raised their price target on Constellation Brands from $147.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Citigroup raised their price target on Constellation Brands from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research note on Monday, June 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. Constellation Brands has a consensus rating of “Buy” and a consensus price target of $197.32.
NYSE STZ opened at $178.20 on Friday. The firm has a market cap of $34.36 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.94 and a quick ratio of 1.18. The stock’s 50-day moving average is $179.48 and its 200-day moving average is $172.76. Constellation Brands, Inc. has a one year low of $104.28 and a one year high of $212.00.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, July 1st. The company reported $2.30 EPS for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.29. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. Constellation Brands’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 earnings per share. Equities analysts anticipate that Constellation Brands, Inc. will post 8.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, August 10th. Constellation Brands’s dividend payout ratio is presently 32.89%.
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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