Insider Selling: Constellation Brands Inc (STZ) Insider Sells 2,935 Shares of Stock
Constellation Brands Inc (NYSE:STZ) insider William A. Newlands sold 2,935 shares of Constellation Brands stock in a transaction on Monday, October 9th. The stock was sold at an average price of $210.10, for a total transaction of $616,643.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Constellation Brands Inc (NYSE:STZ) traded down 0.11% on Tuesday, hitting $207.96. 1,669,970 shares of the stock were exchanged. The company has a market cap of $40.68 billion, a PE ratio of 23.89 and a beta of 0.04. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $213.40. The company has a 50-day moving average price of $201.41 and a 200 day moving average price of $187.59.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 22.04% and a return on equity of 22.88%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm posted $1.77 EPS. Constellation Brands’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts forecast that Constellation Brands Inc will post $8.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s payout ratio is presently 26.03%.
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Several hedge funds and other institutional investors have recently made changes to their positions in STZ. Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after purchasing an additional 193 shares during the period. Harbour Capital Advisors LLC bought a new stake in Constellation Brands during the 1st quarter worth approximately $117,000. North Star Investment Management Corp. raised its stake in Constellation Brands by 11.6% during the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after acquiring an additional 78 shares during the period. Hanson McClain Inc. raised its stake in Constellation Brands by 0.4% during the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after acquiring an additional 3 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Constellation Brands by 609.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after acquiring an additional 670 shares during the period. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. J P Morgan Chase & Co reissued an “overweight” rating and set a $220.00 target price (up previously from $188.00) on shares of Constellation Brands in a research note on Friday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price (up previously from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. UBS AG lifted their target price on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, June 30th. Argus lifted their target price on shares of Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $216.00 target price (up previously from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands currently has an average rating of “Buy” and an average price target of $216.00.
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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