Chicago Equity Partners LLC lifted its position in shares of Constellation Brands Inc (NYSE:STZ) by 65.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,265 shares of the company’s stock after buying an additional 2,865 shares during the quarter. Chicago Equity Partners LLC’s holdings in Constellation Brands were worth $1,449,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of STZ. Bank of Montreal Can grew its holdings in shares of Constellation Brands by 3.2% during the second quarter. Bank of Montreal Can now owns 98,693 shares of the company’s stock worth $19,120,000 after buying an additional 3,081 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Constellation Brands by 48.0% during the second quarter. State of Alaska Department of Revenue now owns 3,578 shares of the company’s stock worth $693,000 after buying an additional 1,160 shares in the last quarter. Concorde Asset Management LLC purchased a new stake in shares of Constellation Brands during the second quarter worth about $410,000. V Wealth Management LLC purchased a new stake in Constellation Brands in the second quarter valued at approximately $165,000. Finally, Advisors Capital Management LLC purchased a new stake in Constellation Brands in the second quarter valued at approximately $272,000. Institutional investors and hedge funds own 74.38% of the company’s stock.
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Constellation Brands Inc (NYSE:STZ) opened at $220.76 on Tuesday. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $221.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 1.61. The company has a market cap of $42,773.38, a price-to-earnings ratio of 26.50, a PEG ratio of 1.41 and a beta of 0.10.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. research analysts anticipate that Constellation Brands Inc will post 8.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.94%. Constellation Brands’s dividend payout ratio is presently 23.85%.
In related news, insider William A. Newlands sold 2,935 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William F. Hackett sold 12,517 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Insiders sold 86,179 shares of company stock worth $18,030,434 over the last ninety days. 15.59% of the stock is currently owned by corporate insiders.
STZ has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Constellation Brands from $218.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, October 6th. Goldman Sachs Group, Inc. (The) downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $212.00 to $210.00 in a report on Monday, July 24th. Evercore ISI restated an “outperform” rating and issued a $235.00 target price (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a report on Sunday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $216.00.
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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