Tocqueville Asset Management L.P. increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 9.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,460 shares of the company’s stock after purchasing an additional 3,170 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Constellation Brands were worth $7,862,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. First Republic Investment Management Inc. raised its position in Constellation Brands by 15.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 258,436 shares of the company’s stock worth $55,724,000 after purchasing an additional 34,724 shares during the period. Highbridge Capital Management LLC bought a new stake in Constellation Brands in the 3rd quarter worth $12,053,000. Cpwm LLC bought a new stake in Constellation Brands in the 3rd quarter worth $316,000. Kingfisher Capital LLC bought a new stake in Constellation Brands in the 3rd quarter worth $1,049,000. Finally, Columbia Partners L.L.C. Investment Management bought a new stake in Constellation Brands in the 3rd quarter worth $3,117,000. Institutional investors own 72.83% of the company’s stock.
In other news, CEO Robert Sands sold 151,060 shares of Constellation Brands stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the sale, the chief executive officer now owns 737,607 shares of the company’s stock, valued at approximately $164,980,557.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard Sands sold 148,773 shares of Constellation Brands stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the sale, the chairman now directly owns 346,525 shares in the company, valued at approximately $77,514,177.25. 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 ninety days. Insiders own 15.80% of the company’s stock.
A number of brokerages have issued reports on STZ. ValuEngine raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Friday, October 12th. SunTrust Banks lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $260.00 to $220.00 in a report on Monday, September 10th. Morgan Stanley set a $255.00 price target on shares of Constellation Brands and gave the stock a “buy” rating in a report on Friday, October 5th. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, September 27th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $289.00 price target on shares of Constellation Brands in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus price target of $244.27.
Shares of STZ opened at $188.61 on Friday. The stock has a market cap of $36.13 billion, a PE ratio of 21.63, a P/E/G ratio of 1.85 and a beta of 0.05. 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, Inc. has a 1-year low of $187.34 and a 1-year high of $236.62.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.27. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. Constellation Brands had a net margin of 38.18% and a return on equity of 18.63%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 EPS. Research analysts expect that Constellation Brands, Inc. will post 9.41 EPS 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 dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, November 5th. Constellation Brands’s payout ratio is 33.94%.
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.
Read More: How to interpret a stock’s beta number
Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZ).
Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.