Telemus Capital LLC held its stake in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the company’s stock at the end of the second quarter. Telemus Capital LLC’s holdings in Constellation Brands were worth $387,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock worth $1,880,863,000 after buying an additional 11,264,949 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Constellation Brands during the first quarter worth $132,686,000. Marshall Wace North America L.P. purchased a new stake in shares of Constellation Brands during the first quarter worth $132,686,000. OZ Management LP purchased a new stake in shares of Constellation Brands during the first quarter worth $121,982,000. Finally, Alliancebernstein L.P. raised its stake in shares of Constellation Brands by 203.6% in the first quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock worth $145,011,000 after buying an additional 600,001 shares during the period. 76.14% of the stock is owned by institutional investors and hedge funds.
Constellation Brands Inc (STZ) opened at 193.82 on Monday. The firm has a market capitalization of $37.85 billion, a price-to-earnings ratio of 24.31 and a beta of 0.06. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $199.89. The company’s 50-day moving average price is $190.79 and its 200 day moving average price is $172.44.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the firm earned $1.54 earnings per share. Constellation Brands’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts predict that Constellation Brands Inc will post $8.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.
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STZ has been the subject of a number of research analyst reports. Vetr lowered Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 target price for the company. in a research report on Tuesday, May 16th. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price for the company in a research report on Thursday, June 22nd. Argus boosted their price target on Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) raised Constellation Brands from a “buy” rating to a “conviction-buy” rating and reduced their price target for the stock from $200.00 to $168.95 in a research report on Monday, April 17th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $215.00 price target (up from $205.00) on shares of Constellation Brands in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $200.53.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the sale, the vice president now directly owns 8,914 shares in the company, valued at $1,722,897.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas J. Mullin sold 23,827 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $193.64, for a total value of $4,613,860.28. Following the completion of the sale, the vice president now owns 78,524 shares in the company, valued at $15,205,387.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,601 shares of company stock worth $18,586,986. 15.59% of the stock is owned by insiders.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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