Teachers Advisors LLC cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 316,736 shares of the company’s stock after selling 64,732 shares during the period. Teachers Advisors LLC owned 0.16% of Constellation Brands worth $61,361,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP grew its stake in shares of Constellation Brands by 5,071.4% during the 2nd quarter. Seven Eight Capital LP now owns 36,200 shares of the company’s stock valued at $7,013,000 after buying an additional 35,500 shares during the period. Raymond James Trust N.A. grew its stake in shares of Constellation Brands by 29.0% during the 2nd quarter. Raymond James Trust N.A. now owns 2,723 shares of the company’s stock valued at $527,000 after buying an additional 612 shares during the period. Oak Ridge Investments LLC grew its stake in shares of Constellation Brands by 24.4% during the 2nd quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock valued at $6,956,000 after buying an additional 7,052 shares during the period. Alliancebernstein L.P. grew its stake in shares of Constellation Brands by 87.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock valued at $325,751,000 after buying an additional 786,726 shares during the period. Finally, FCG Advisors LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at $337,000. 74.95% of the stock is owned by institutional investors.
Several analysts have recently issued reports on STZ shares. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Morgan Stanley boosted their price objective on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $198.00 price objective (down from $200.00) on shares of Constellation Brands in a research note on Friday, June 23rd. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average target price of $202.00.
Constellation Brands Inc (STZ) opened at 203.40 on Friday. The firm has a 50-day moving average of $198.27 and a 200-day moving average of $182.34. Constellation Brands Inc has a one year low of $144.00 and a one year high of $205.12. The firm has a market cap of $39.72 billion, a price-to-earnings ratio of 25.51 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the business posted $1.54 EPS. Constellation Brands’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Constellation Brands Inc will post $8.18 EPS for the current year.
The firm also recently declared 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 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 26.03%.
In other news, VP Thomas J. Mullin sold 23,827 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares in the company, valued at approximately $15,205,387.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the transaction, the vice president now owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,118 shares of company stock worth $21,052,835. 15.59% of the stock is currently owned by company insiders.
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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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