US Bancorp DE boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,105 shares of the company’s stock after acquiring an additional 1,339 shares during the period. US Bancorp DE’s holdings in Constellation Brands were worth $9,510,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of STZ. Sun Life Financial INC increased its stake in Constellation Brands by 155.3% during the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after acquiring an additional 278 shares during the period. Atlantic Trust LLC bought a new position in Constellation Brands during the 2nd quarter worth $114,000. Benjamin F. Edwards & Company Inc. increased its stake in Constellation Brands by 227.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 527 shares of the company’s stock worth $115,000 after acquiring an additional 366 shares during the period. Stelac Advisory Services LLC bought a new position in Constellation Brands during the 2nd quarter worth $125,000. Finally, Truvestments Capital LLC bought a new position in Constellation Brands during the 3rd quarter worth $137,000. Hedge funds and other institutional investors own 73.90% of the company’s stock.
Several equities analysts have recently issued reports on STZ shares. Deutsche Bank decreased their price target on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Bank of America decreased their price target on Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Cann decreased their price target on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Pivotal Research reiterated a “buy” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, August 15th. Finally, Jefferies Financial Group started coverage on Constellation Brands in a research note on Friday, September 7th. They issued a “buy” rating and a $283.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and an average target price of $246.96.
In other Constellation Brands news, Chairman Richard Sands sold 148,773 shares of Constellation Brands stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the transaction, the chairman now directly owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas Michael Kane sold 4,419 shares of Constellation Brands stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $223.83, for a total value of $989,104.77. Following the transaction, the vice president now directly owns 8,499 shares in the company, valued at $1,902,331.17. The disclosure for this sale can be found here. Insiders have sold a total of 578,723 shares of company stock worth $129,438,449 in the last 90 days. 15.80% of the stock is currently owned by corporate insiders.
Shares of STZ stock opened at $203.13 on Friday. The firm has a market cap of $39.17 billion, a P/E ratio of 23.29, a PEG ratio of 2.00 and a beta of 0.08. Constellation Brands, Inc. has a twelve month low of $196.26 and a twelve month high of $236.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.76 and a current ratio of 1.66.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.27. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. Constellation Brands’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 9.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a yield of 1.46%. Constellation Brands’s dividend payout ratio is currently 33.94%.
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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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