Impala Asset Management LLC lessened its holdings in Constellation Brands Inc (NYSE:STZ) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,678 shares of the company’s stock after selling 29,063 shares during the quarter. Constellation Brands makes up approximately 1.6% of Impala Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Impala Asset Management LLC owned 0.09% of Constellation Brands worth $32,484,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hanson McClain Inc. raised its holdings in Constellation Brands by 0.3% in the 1st quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the last quarter. Concert Wealth Management Inc. raised its holdings in Constellation Brands by 0.7% in the 1st quarter. Concert Wealth Management Inc. now owns 1,379 shares of the company’s stock valued at $212,000 after buying an additional 10 shares during the last quarter. Financial Architects Inc raised its holdings in Constellation Brands by 1.4% in the 2nd quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock valued at $344,000 after buying an additional 25 shares during the last quarter. Welch Group LLC raised its holdings in Constellation Brands by 2.9% in the 2nd quarter. Welch Group LLC now owns 885 shares of the company’s stock valued at $171,000 after buying an additional 25 shares during the last quarter. Finally, Ray Gerald L & Associates Ltd. raised its holdings in Constellation Brands by 0.7% in the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock valued at $897,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.
In other news, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the transaction, the director now directly owns 22,820 shares of the company’s stock, valued at $4,471,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The disclosure for this sale can be found here. Insiders have sold 108,118 shares of company stock worth $21,052,835 over the last three months. Insiders own 15.59% of the company’s stock.
STZ has been the subject of a number of research reports. BidaskClub lowered shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Royal Bank Of Canada reiterated a “buy” rating on shares of Constellation Brands in a report on Friday, June 16th. Stifel Nicolaus raised their price objective on shares of Constellation Brands from $201.00 to $216.00 and gave the company a “buy” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $198.00 price objective (down previously from $200.00) on shares of Constellation Brands in a report on Friday, June 23rd. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $202.00.
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Shares of Constellation Brands Inc (NYSE:STZ) traded down 0.174% during mid-day trading on Friday, hitting $204.025. 469,192 shares of the stock traded hands. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12. The firm’s 50-day moving average is $198.02 and its 200-day moving average is $182.02. The stock has a market cap of $39.85 billion, a price-to-earnings ratio of 25.589 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Constellation Brands Inc will post $8.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.02%. Constellation Brands’s dividend payout ratio (DPR) is presently 26.03%.
Constellation Brands Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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