Barry A. Fromberg Sells 2,500 Shares of Constellation Brands Inc (STZ) Stock
Constellation Brands Inc (NYSE:STZ) Director Barry A. Fromberg sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Constellation Brands Inc (NYSE:STZ) traded down 0.16% on Thursday, reaching $207.40. 1,321,690 shares of the company were exchanged. The stock’s 50-day moving average is $202.00 and its 200 day moving average is $188.05. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $213.40. The firm has a market capitalization of $40.57 billion, a PE ratio of 23.83 and a beta of 0.04.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Constellation Brands had a return on equity of 22.88% and a net margin of 22.04%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. On average, analysts forecast that Constellation Brands Inc will post $8.42 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is presently 26.03%.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. MPS Loria Financial Planners LLC purchased a new stake in Constellation Brands in the 2nd quarter valued at approximately $157,000. W. E. Donoghue & Co. LLC purchased a new stake in Constellation Brands in the 2nd quarter valued at approximately $2,385,000. Achmea Investment Management B.V. boosted its holdings in Constellation Brands by 88.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after purchasing an additional 4,377 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Constellation Brands in the 2nd quarter valued at approximately $43,914,000. Finally, WFG Advisors LP boosted its holdings in Constellation Brands by 7.3% in the 2nd quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock valued at $264,000 after purchasing an additional 93 shares in the last quarter. 74.96% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the stock. Argus upped their price target on shares of Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. SunTrust Banks, Inc. restated a “buy” rating and issued a $230.00 price target on shares of Constellation Brands in a research note on Friday, October 6th. Evercore ISI restated an “outperform” rating and issued a $235.00 price target (up from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. Pivotal Research increased their price objective on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands has an average rating of “Buy” and a consensus target price 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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