Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 29.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,211 shares of the company’s stock after selling 9,659 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Constellation Brands were worth $4,061,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. HNP Capital LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $215,000. The Manufacturers Life Insurance Company lifted its position in shares of Constellation Brands by 3.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 615,162 shares of the company’s stock worth $88,189,000 after acquiring an additional 22,431 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Constellation Brands by 14.9% during the second quarter. Kistler Tiffany Companies LLC now owns 3,494 shares of the company’s stock valued at $611,000 after purchasing an additional 453 shares during the period. Cox Capital Mgt LLC lifted its position in Constellation Brands by 1.8% in the second quarter. Cox Capital Mgt LLC now owns 8,483 shares of the company’s stock worth $1,484,000 after purchasing an additional 147 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Constellation Brands by 30.2% in the 1st quarter. HighTower Advisors LLC now owns 36,756 shares of the company’s stock valued at $5,264,000 after buying an additional 8,524 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.
In related news, major shareholder Richard Sands sold 638,407 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $180.12, for a total value of $114,989,868.84. Following the sale, the insider now owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Robert Sands sold 172,369 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $180.40, for a total value of $31,095,367.60. Following the completion of the sale, the chairman now owns 616,148 shares in the company, valued at approximately $111,153,099.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,052,364 shares of company stock valued at $189,856,440. Insiders own 15.77% of the company’s stock.
Several analysts recently commented on the company. Guggenheim boosted their price target on Constellation Brands from $149.00 to $159.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Morgan Stanley lifted their price target on Constellation Brands from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. Cowen upped their price target on shares of Constellation Brands from $160.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. UBS Group raised their price objective on shares of Constellation Brands from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Barclays reaffirmed a “buy” rating on shares of Constellation Brands in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $197.32.
Shares of STZ opened at $178.20 on Friday. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 990.06, a PEG ratio of 1.99 and a beta of 0.92. Constellation Brands, Inc. has a 12 month low of $104.28 and a 12 month high of $212.00. The firm has a fifty day simple moving average of $179.48 and a 200 day simple moving average of $172.76. The company has a current ratio of 1.94, a quick ratio of 1.18 and a debt-to-equity ratio of 1.02.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $2.30 EPS for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.29. Constellation Brands had a net margin of 0.62% and a return on equity of 15.10%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the business posted $2.21 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts predict that Constellation Brands, Inc. will post 8.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Monday, August 10th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.89%.
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. 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.
Recommended Story: Why Invest in High-Yield Dividend Stocks?
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.