Cypress Capital Management LLC WY continued to hold its position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,123 shares of the company’s stock at the end of the second quarter. Constellation Brands makes up about 1.4% of Cypress Capital Management LLC WY’s holdings, making the stock its 17th largest position. Cypress Capital Management LLC WY’s holdings in Constellation Brands were worth $1,186,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Forte Capital LLC ADV boosted its stake in shares of Constellation Brands by 11.7% in the first quarter. Forte Capital LLC ADV now owns 3,234 shares of the company’s stock valued at $524,000 after buying an additional 340 shares in the last quarter. Osborn Williams & Donohoe LLC acquired a new stake in shares of Constellation Brands during the first quarter valued at approximately $243,000. Fulton Bank N.A. boosted its position in shares of Constellation Brands by 59.2% in the first quarter. Fulton Bank N.A. now owns 2,337 shares of the company’s stock worth $379,000 after buying an additional 869 shares in the last quarter. Rathbone Brothers plc boosted its position in shares of Constellation Brands by 1.4% in the first quarter. Rathbone Brothers plc now owns 12,800 shares of the company’s stock worth $2,074,000 after buying an additional 180 shares in the last quarter. Finally, Burns J W & Co. Inc. NY purchased a new position in shares of Constellation Brands during the first quarter worth about $688,000. 74.99% of the stock is owned by institutional investors.
Constellation Brands Inc (STZ) traded up 0.77% on Tuesday, hitting $198.70. 775,647 shares of the stock were exchanged. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89. The firm has a market cap of $38.81 billion, a PE ratio of 24.92 and a beta of 0.06. The company has a 50-day moving average price of $194.44 and a 200-day moving average price of $175.47.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.36. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.54 earnings per share. On average, equities research analysts anticipate that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.
STZ has been the topic of a number of research reports. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a research report on Thursday, June 22nd. Argus boosted their price objective on shares of 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 shares of Constellation Brands from a “buy” rating to a “conviction-buy” rating and cut their price objective for the stock from $200.00 to $168.95 in a research report on Monday, April 17th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $215.00 price target (up from $205.00) on shares of Constellation Brands in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Constellation Brands presently has a consensus rating of “Buy” and a consensus target price of $200.53.
In other news, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the transaction, the vice president now owns 86,005 shares in the company, valued at approximately $16,727,972.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,000 shares of Constellation Brands stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the completion of the transaction, the director now owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders have sold a total of 95,601 shares of company stock valued at $18,586,986 in the last 90 days. 15.59% of the stock is currently owned by company 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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