Acrospire Investment Management LLC lifted its position in Constellation Brands Inc (NYSE:STZ) by 100.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 800 shares of the company’s stock after buying an additional 400 shares during the quarter. Acrospire Investment Management LLC’s holdings in Constellation Brands were worth $155,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Fayez Sarofim & Co. lifted its holdings in shares of Constellation Brands by 3.7% in the second quarter. Fayez Sarofim & Co. now owns 375,220 shares of the company’s stock worth $72,690,000 after buying an additional 13,260 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Constellation Brands by 1.4% in the second quarter. Thrivent Financial For Lutherans now owns 6,440 shares of the company’s stock worth $1,248,000 after buying an additional 90 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of Constellation Brands by 28.6% in the second quarter. Profund Advisors LLC now owns 5,425 shares of the company’s stock worth $1,051,000 after buying an additional 1,208 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Constellation Brands in the second quarter worth about $500,000. Finally, Amalgamated Bank lifted its holdings in shares of Constellation Brands by 51.0% in the second quarter. Amalgamated Bank now owns 19,235 shares of the company’s stock worth $3,726,000 after buying an additional 6,496 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on STZ. Vetr downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target on the stock. in a report on Monday, May 22nd. UBS AG increased their price target on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price target (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $220.00 price target (up from $188.00) on shares of Constellation Brands in a report on Friday, June 30th. Finally, Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price target on the stock in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Constellation Brands presently has a consensus rating of “Buy” and a consensus target price of $202.00.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,000 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the transaction, the director now owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William F. Hackett sold 12,517 shares of the company’s stock in a transaction 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 a total of 108,118 shares of company stock worth $21,052,835 in the last 90 days. 15.59% of the stock is currently owned by insiders.
Shares of Constellation Brands Inc (NYSE STZ) traded up 0.40% on Monday, reaching $204.22. 136,384 shares of the company’s stock were exchanged. Constellation Brands Inc has a one year low of $144.00 and a one year high of $205.12. The company has a 50 day moving average price of $198.27 and a 200 day moving average price of $182.34. The firm has a market cap of $39.88 billion, a PE ratio of 25.61 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share 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 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 firm posted $1.54 EPS. Constellation Brands’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts expect that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were issued 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 yield of 1.02%. Constellation Brands’s payout ratio 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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