Columbia Partners L.L.C. Investment Management acquired a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,460 shares of the company’s stock, valued at approximately $3,117,000.
Several other large investors also recently modified their holdings of 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. Atlantic Trust LLC acquired a new position in Constellation Brands in the second quarter valued at $114,000. Truvestments Capital LLC acquired a new position in Constellation Brands in the third quarter valued at $137,000. Cornerstone Wealth Management LLC acquired a new position in Constellation Brands in the second quarter valued at $140,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Constellation Brands by 49.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock valued at $170,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.
STZ stock opened at $195.76 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.66 and a debt-to-equity ratio of 0.80. Constellation Brands, Inc. has a 1 year low of $187.87 and a 1 year high of $236.62. The stock has a market capitalization of $37.09 billion, a PE ratio of 22.45, a P/E/G ratio of 1.89 and a beta of 0.08.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.27. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 9.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were paid a $0.74 dividend. The ex-dividend date of this dividend was Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.51%. Constellation Brands’s dividend payout ratio (DPR) is currently 33.94%.
In other news, VP Thomas Michael Kane sold 4,419 shares of the 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 completion of the sale, the vice president now owns 8,499 shares in the company, valued at $1,902,331.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Sands sold 136,547 shares of the stock in a transaction dated Friday, October 19th. The shares were sold at an average price of $223.62, for a total value of $30,534,640.14. Following the completion of the sale, the chief executive officer now owns 737,607 shares of the company’s stock, valued at approximately $164,943,677.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 578,723 shares of company stock valued at $129,438,449. Insiders own 15.80% of the company’s stock.
Several research firms recently commented on STZ. Zacks Investment Research upgraded Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Macquarie set a $245.00 price target on Constellation Brands and gave the stock a “buy” rating in a research note on Friday, October 5th. Bank of America dropped their price target on Constellation Brands from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. Finally, Morgan Stanley dropped their price target on Constellation Brands from $258.00 to $251.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $245.44.
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Constellation Brands Company 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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