Ameriprise Financial Inc. decreased its stake in shares of Constellation Brands Inc (NYSE:STZ) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 465,545 shares of the company’s stock after selling 3,326 shares during the period. Ameriprise Financial Inc. owned 0.24% of Constellation Brands worth $90,193,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. DSAM Partners London Ltd purchased a new position in Constellation Brands during the second quarter worth $21,659,000. United Capital Financial Advisers LLC increased its position in Constellation Brands by 9.6% during the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock worth $1,477,000 after buying an additional 797 shares in the last quarter. Brighton Jones LLC purchased a new position in Constellation Brands during the second quarter worth $245,000. Cipher Capital LP purchased a new position in Constellation Brands during the second quarter worth $7,833,000. Finally, D L Carlson Investment Group Inc. increased its position in Constellation Brands by 22.3% during the second quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock worth $5,310,000 after buying an additional 5,005 shares in the last quarter. 74.96% of the stock is owned by institutional investors.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the sale, the vice president now directly owns 8,914 shares in the company, valued at $1,722,897.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William F. Hackett sold 12,517 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction 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. Company insiders own 15.59% of the company’s stock.
STZ has been the subject of a number of recent analyst reports. Macquarie initiated coverage on Constellation Brands in a research report on Thursday. They issued an “outperform” rating and a $227.00 price objective for the company. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $216.00 price objective (up previously from $215.00) on shares of Constellation Brands in a research report on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) downgraded Constellation Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $212.00 to $210.00 in a research report on Monday, July 24th. BidaskClub raised Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $202.00.
Constellation Brands Inc (NYSE STZ) opened at 203.40 on Monday. The firm’s 50 day moving average price is $198.27 and its 200-day moving average price is $182.34. The firm has a market cap of $39.72 billion, a PE ratio of 25.51 and a beta of 0.03. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12.
Constellation Brands (NYSE:STZ) last posted its 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. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. On average, analysts forecast that Constellation Brands Inc will post $8.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Monday, August 7th. Constellation Brands’s payout ratio is 26.03%.
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About Constellation Brands
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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