Thomas J. Mullin Sells 50,000 Shares of Constellation Brands Inc (STZ) Stock
Constellation Brands Inc (NYSE:STZ) VP Thomas J. Mullin sold 50,000 shares of Constellation Brands stock in a transaction on Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Constellation Brands Inc (NYSE:STZ) traded up 1.52% during trading on Tuesday, hitting $213.64. The company had a trading volume of 2,758,634 shares. The stock has a market cap of $41.79 billion, a PE ratio of 24.54 and a beta of 0.04. The firm has a 50 day moving average of $202.77 and a 200 day moving average of $188.88. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $213.90.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Constellation Brands Inc will post $8.42 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s dividend payout ratio is currently 23.85%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hanson McClain Inc. increased its position in shares of Constellation Brands by 0.4% in the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after buying an additional 3 shares in the last quarter. Financial Architects Inc increased its position in shares of Constellation Brands by 1.4% in the 2nd quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock valued at $344,000 after buying an additional 25 shares in the last quarter. Welch Group LLC increased its position in shares of Constellation Brands by 2.9% in the 2nd quarter. Welch Group LLC now owns 885 shares of the company’s stock valued at $171,000 after buying an additional 25 shares in the last quarter. Ray Gerald L & Associates Ltd. increased its position in shares of Constellation Brands by 0.7% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock valued at $897,000 after buying an additional 30 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Constellation Brands by 0.8% in the 2nd quarter. LS Investment Advisors LLC now owns 4,958 shares of the company’s stock valued at $961,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
Several equities analysts have recently issued reports on STZ shares. Argus lifted their price target on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 5th. Stifel Nicolaus lifted their price target on Constellation Brands from $201.00 to $216.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $198.00 price target (down from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. BidaskClub cut Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus 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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