Telemus Capital LLC held its stake in Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.
Other hedge funds have also 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 valued at $1,880,863,000 after buying an additional 11,264,949 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Constellation Brands during the first quarter valued at $132,686,000. Marshall Wace North America L.P. bought a new position in Constellation Brands during the first quarter valued at $132,686,000. OZ Management LP bought a new position in Constellation Brands during the first quarter valued at $121,982,000. Finally, Alliancebernstein L.P. raised its position in Constellation Brands by 203.6% in the first quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock valued at $145,011,000 after buying an additional 600,001 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.
Shares of Constellation Brands Inc (NYSE STZ) traded down 0.14% during trading on Thursday, reaching $198.29. 368,210 shares of the company were exchanged. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89. The stock’s 50-day moving average is $194.90 and its 200-day moving average is $175.63. The firm has a market cap of $38.73 billion, a price-to-earnings ratio of 24.87 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter 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. Equities research analysts predict that Constellation Brands Inc will post $8.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.
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A number of equities analysts have recently commented on the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $216.00 price objective (up from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) downgraded Constellation Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $212.00 to $210.00 in a research report on Monday, July 24th. BidaskClub raised Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a report on Wednesday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $218.00 price objective on shares of Constellation Brands in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Constellation Brands presently has an average rating of “Buy” and an average price target of $200.53.
In other Constellation Brands news, VP Thomas J. Mullin sold 23,827 shares of Constellation Brands 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 directly owns 78,524 shares of the company’s stock, valued at $15,205,387.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of Constellation Brands stock in a transaction on Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the sale, the vice president now directly owns 8,914 shares of the company’s stock, valued at $1,722,897.92. The disclosure for this sale can be found here. Insiders have sold 95,601 shares of company stock valued at $18,586,986 in the last three months. 15.59% of the stock is owned by insiders.
Constellation Brands Company Profile
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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