CX Institutional increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 183.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170 shares of the company’s stock after purchasing an additional 110 shares during the quarter. CX Institutional’s holdings in Constellation Brands were worth $32,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of STZ. Rockbridge Investment Management LCC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth about $25,000. Heritage Wealth Advisors increased its position in shares of Constellation Brands by 193.3% during the 2nd quarter. Heritage Wealth Advisors now owns 440 shares of the company’s stock worth $26,000 after purchasing an additional 290 shares during the last quarter. Ellevest Inc. increased its position 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 last quarter. NuWave Investment Management LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth about $28,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in shares of Constellation Brands during the 2nd quarter worth about $43,000. 71.77% of the stock is owned by hedge funds and other institutional investors.
In other news, Vice Chairman Richard Sands sold 151,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $181.17, for a total transaction of $27,429,862.68. Following the completion of the sale, the insider now owns 301,280 shares in the company, valued at $54,582,897.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Sands sold 90,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $181.20, for a total value of $16,341,340.80. Following the sale, the chairman now owns 644,719 shares of the company’s stock, valued at approximately $116,823,082.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,052,364 shares of company stock valued at $189,856,440. 15.77% of the stock is owned by company insiders.
STZ stock opened at $181.48 on Friday. The business has a 50 day moving average price of $186.98 and a 200 day moving average price of $174.92. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 1,008.28, a PEG ratio of 2.07 and a beta of 0.97. Constellation Brands, Inc. has a fifty-two week low of $104.28 and a fifty-two week high of $208.55. The company has a quick ratio of 1.18, a current ratio of 1.94 and a debt-to-equity ratio of 1.02.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, October 7th. The company reported $2.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.25. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business earned $2.91 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 8.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, November 5th. Constellation Brands’s dividend payout ratio is currently 10.20%.
Several equities analysts have weighed in on STZ shares. Credit Suisse Group lifted their target price on Constellation Brands from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Citigroup lifted their target price on Constellation Brands from $200.00 to $209.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley lifted their target price on Constellation Brands from $196.00 to $203.00 and gave the company an “equal weight” rating in a research report on Friday, October 2nd. Atlantic Securities downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and set a $196.00 target price for the company. in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Constellation Brands from $200.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $198.37.
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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