Insider Selling: Constellation Brands Inc (NYSE:STZ) VP Sells 23,827 Shares of Stock
Constellation Brands Inc (NYSE:STZ) VP Thomas J. Mullin sold 23,827 shares of Constellation Brands stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares in the company, valued at $15,205,387.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Constellation Brands Inc (NYSE STZ) traded down 0.08% during trading on Thursday, reaching $193.76. The company’s stock had a trading volume of 1,187,001 shares. The firm has a market cap of $37.84 billion, a PE ratio of 24.30 and a beta of 0.07. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $197.41. The stock’s 50 day moving average price is $182.37 and its 200-day moving average price is $165.44.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.36. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. Constellation Brands’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. Equities analysts predict that Constellation Brands Inc will post $8.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.07%. Constellation Brands’s dividend payout ratio (DPR) is presently 26.03%.
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Several research analysts have weighed in on STZ shares. J P Morgan Chase & Co started coverage on Constellation Brands in a report on Tuesday, March 21st. They set an “overweight” rating and a $183.00 target price on the stock. OTR Global lowered Constellation Brands to a “positive” rating in a report on Tuesday, March 28th. Royal Bank Of Canada restated a “buy” rating and issued a $183.00 price target on shares of Constellation Brands in a report on Friday, March 31st. Susquehanna Bancshares Inc restated a “hold” rating and issued a $158.00 price target on shares of Constellation Brands in a report on Wednesday, April 5th. Finally, Pivotal Research boosted their price target on Constellation Brands from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $199.94.
Several large investors have recently bought and sold shares of STZ. BlackRock Inc. boosted its stake in Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock worth $1,880,863,000 after buying an additional 11,264,949 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Constellation Brands during the first quarter worth approximately $132,686,000. Marshall Wace North America L.P. bought a new stake in Constellation Brands during the first quarter worth approximately $132,686,000. OZ Management LP bought a new stake in Constellation Brands during the first quarter worth approximately $121,982,000. Finally, Alliancebernstein L.P. boosted its stake in Constellation Brands by 203.6% in the first quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock worth $145,011,000 after buying an additional 600,001 shares during the period. 75.67% of the stock is currently owned by institutional investors.
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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