Emerald Advisers Inc. PA held its position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,136 shares of the company’s stock at the end of the second quarter. Emerald Advisers Inc. PA’s holdings in Constellation Brands were worth $414,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its position 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 during the last quarter. State Street Corp increased its position in shares of Constellation Brands by 0.5% in the first quarter. State Street Corp now owns 7,391,582 shares of the company’s stock valued at $1,197,945,000 after buying an additional 39,246 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Constellation Brands by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock valued at $741,999,000 after buying an additional 378,620 shares during the last quarter. Egerton Capital UK LLP increased its position in shares of Constellation Brands by 9.3% in the second quarter. Egerton Capital UK LLP now owns 2,717,567 shares of the company’s stock valued at $526,474,000 after buying an additional 231,984 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Constellation Brands by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,045,867 shares of the company’s stock valued at $331,574,000 after buying an additional 71,963 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.
Constellation Brands Inc (STZ) traded up 0.41% on Friday, hitting $197.88. The stock had a trading volume of 776,053 shares. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $199.89. The stock has a market cap of $38.65 billion, a P/E ratio of 24.82 and a beta of 0.06. The company’s 50 day moving average is $195.43 and its 200-day moving average is $176.14.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.98 by $0.36. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. Constellation Brands’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors 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 (DPR) is 26.03%.
Several equities research analysts recently commented on STZ shares. Morgan Stanley lifted their price objective on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $198.00 price objective (down from $200.00) on shares of Constellation Brands in a report on Friday, June 23rd. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 price objective on Constellation Brands and gave the stock a “hold” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $200.53.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the transaction, the vice president now owns 8,914 shares in the company, valued at $1,722,897.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Mullin sold 54,834 shares of the 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 transaction, the vice president now owns 86,005 shares in the company, valued at approximately $16,727,972.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,601 shares of company stock worth $18,586,986. 15.59% of the stock is owned by corporate 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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