Constellation Brands Inc (NYSE:STZ) Director Sells $391,860.00 in Stock
Constellation Brands Inc (NYSE:STZ) 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 value of $391,860.00. Following the completion of the sale, the director now owns 22,820 shares of the company’s stock, valued at $4,471,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Constellation Brands Inc (STZ) traded down 0.87% during mid-day trading on Monday, reaching $196.60. The company’s stock had a trading volume of 1,817,734 shares. The company has a market capitalization of $38.40 billion, a price-to-earnings ratio of 24.66 and a beta of 0.07. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $199.64. The company’s 50 day moving average price is $182.37 and its 200-day moving average price is $165.44.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. Analysts predict that Constellation Brands Inc will post $8.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders 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 dividend yield of 1.06%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
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STZ has been the subject of several research analyst reports. Morgan Stanley raised their price objective on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Wells Fargo & Company restated an “outperform” rating on shares of Constellation Brands in a research note on Monday, April 10th. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $205.00 price objective (up from $183.00) on shares of Constellation Brands in a research note on Friday, April 7th. Finally, UBS AG raised their price objective on Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Constellation Brands currently has a consensus rating of “Buy” and an average target price of $198.53.
Several institutional investors have recently modified their holdings of STZ. 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 worth $1,880,863,000 after buying an additional 11,264,949 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Constellation Brands during the first quarter worth about $132,686,000. Marshall Wace North America L.P. acquired a new position in shares of Constellation Brands during the first quarter worth about $132,686,000. OZ Management LP acquired a new position in shares of Constellation Brands during the first quarter worth about $121,982,000. Finally, Alliancebernstein L.P. increased its position in shares of 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. 75.39% of the stock is owned by institutional investors and hedge funds.
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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