Cozad Asset Management Inc. cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 37.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,495 shares of the company’s stock after selling 11,248 shares during the quarter. Constellation Brands makes up approximately 1.1% of Cozad Asset Management Inc.’s portfolio, making the stock its 26th biggest position. Cozad Asset Management Inc.’s holdings in Constellation Brands were worth $3,642,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in STZ. Comerica Securities Inc. grew its position in shares of Constellation Brands by 7.7% during the fourth quarter. Comerica Securities Inc. now owns 4,330 shares of the company’s stock worth $696,000 after buying an additional 310 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Constellation Brands by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 1,937,070 shares of the company’s stock valued at $310,909,000 after purchasing an additional 120,139 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Constellation Brands by 4.8% in the first quarter. Gamco Investors INC. ET AL now owns 9,545 shares of the company’s stock valued at $1,674,000 after purchasing an additional 440 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new position in Constellation Brands in the first quarter valued at approximately $160,000. Finally, First Allied Advisory Services Inc. boosted its holdings in Constellation Brands by 25.4% in the first quarter. First Allied Advisory Services Inc. now owns 10,690 shares of the company’s stock valued at $1,882,000 after purchasing an additional 2,163 shares in the last quarter. 72.30% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on STZ shares. UBS Group upped their price target on Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Evercore ISI set a $220.00 price objective on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. Barclays reissued a “buy” rating and issued a $238.00 price objective on shares of Constellation Brands in a report on Tuesday, July 2nd. Jefferies Financial Group increased their price objective on Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a report on Monday, July 1st. Finally, Citigroup set a $210.00 price objective on Constellation Brands and gave the company a “hold” rating in a report on Monday, July 1st. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $220.10.
Shares of Constellation Brands stock traded down $3.02 during trading hours on Thursday, hitting $203.75. 7,925 shares of the company were exchanged, compared to its average volume of 1,901,859. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $228.91. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average of $199.69 and a 200-day moving average of $192.12. The stock has a market capitalization of $39.94 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 3.10 and a beta of 0.69.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.15. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Constellation Brands, Inc. will post 8.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, August 12th. Constellation Brands’s payout ratio is 10.02%.
In other Constellation Brands news, Director Jeremy S. G. Fowden sold 10,213 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the transaction, the director now owns 27,630 shares in the company, valued at $5,452,780.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the transaction, the insider now owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The disclosure for this sale can be found here. Corporate insiders own 15.86% of the company’s stock.
About Constellation Brands
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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