MAI Capital Management boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,198 shares of the company’s stock after purchasing an additional 633 shares during the quarter. MAI Capital Management’s holdings in Constellation Brands were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in STZ. Sun Life Financial INC increased its stake in Constellation Brands by 155.3% in the second quarter. Sun Life Financial INC now owns 457 shares of the company’s stock valued at $100,000 after purchasing an additional 278 shares during the last quarter. Clarus Wealth Advisors acquired a new position in Constellation Brands in the second quarter valued at $111,000. Atlantic Trust LLC acquired a new position in Constellation Brands in the second quarter valued at $114,000. Benjamin F. Edwards & Company Inc. increased its stake in Constellation Brands by 227.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock valued at $115,000 after purchasing an additional 366 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new position in Constellation Brands in the second quarter valued at $125,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.
Several brokerages have commented on STZ. ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. OTR Global lowered Constellation Brands to a “positive” rating in a research note on Friday, June 15th. Citigroup upped their price target on Constellation Brands from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Wednesday. Bank of America upped their price target on Constellation Brands from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Finally, Barclays set a $257.00 price target on Constellation Brands and gave the stock a “buy” rating in a research note on Friday, October 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $246.53.
Shares of NYSE STZ opened at $225.69 on Friday. Constellation Brands, Inc. has a 1-year low of $198.85 and a 1-year high of $236.62. The company has a quick ratio of 0.77, a current ratio of 1.81 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $41.23 billion, a PE ratio of 25.88, a P/E/G ratio of 2.13 and a beta of 0.01.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 4th. The company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.27. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Constellation Brands had a return on equity of 19.81% and a net margin of 31.51%. Constellation Brands’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, research analysts anticipate that Constellation Brands, Inc. will post 9.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, November 5th. Constellation Brands’s dividend payout ratio is currently 10.67%.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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