Capital Growth Management LP purchased a new position in Constellation Brands Inc (NYSE:STZ) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 260,000 shares of the company’s stock, valued at approximately $50,370,000. Constellation Brands accounts for approximately 2.3% of Capital Growth Management LP’s investment portfolio, making the stock its 14th biggest position. Capital Growth Management LP owned about 0.13% of Constellation Brands as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. DSAM Partners London Ltd acquired a new stake in Constellation Brands in the second quarter worth $21,659,000. United Capital Financial Advisers LLC grew its holdings in Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock worth $1,477,000 after purchasing an additional 797 shares during the period. Brighton Jones LLC acquired a new stake in Constellation Brands in the second quarter worth $245,000. Cipher Capital LP acquired a new stake in Constellation Brands in the second quarter worth $7,833,000. Finally, D L Carlson Investment Group Inc. grew its holdings in Constellation Brands by 22.3% in the second quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock worth $5,310,000 after purchasing an additional 5,005 shares during the period. Institutional investors and hedge funds own 74.96% of the company’s stock.
A number of research firms have commented on STZ. Macquarie began coverage on shares of Constellation Brands in a report on Thursday, September 14th. They set an “outperform” rating and a $227.00 price objective for the company. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Cowen and Company reiterated a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a report on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) cut shares of Constellation Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $212.00 to $210.00 in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $202.00.
Constellation Brands Inc (NYSE:STZ) traded down 0.92% on Tuesday, hitting $202.03. 295,212 shares of the company were exchanged. The stock has a market capitalization of $39.46 billion, a P/E ratio of 25.34 and a beta of 0.03. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12. The company has a 50 day moving average price of $198.54 and a 200-day moving average price of $183.01.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the firm posted $1.54 EPS. Constellation Brands’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts expect that Constellation Brands Inc will post $8.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, August 7th. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
In related news, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the sale, the director now directly owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 108,118 shares of company stock worth $21,052,835 over the last three months. 15.59% of the stock is currently 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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