New York State Common Retirement Fund grew its position in Constellation Brands Inc (NYSE:STZ) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 456,708 shares of the company’s stock after buying an additional 9,799 shares during the period. New York State Common Retirement Fund owned 0.23% of Constellation Brands worth $88,478,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DSAM Partners London Ltd acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $21,659,000. United Capital Financial Advisers LLC increased its stake in shares of Constellation Brands by 9.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after buying an additional 797 shares during the period. Brighton Jones LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $245,000. Cipher Capital LP acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $7,833,000. Finally, D L Carlson Investment Group Inc. increased its stake in shares of Constellation Brands by 22.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock valued at $5,310,000 after buying an additional 5,005 shares during the period. 74.96% of the stock is owned by institutional investors.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the sale, the director now directly owns 22,820 shares in the company, valued at approximately $4,471,122.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the sale, the vice president now owns 8,914 shares of the company’s stock, valued at $1,722,897.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,118 shares of company stock valued at $21,052,835. Company insiders own 15.59% of the company’s stock.
Constellation Brands Inc (NYSE STZ) traded down 0.78% on Tuesday, reaching $202.30. The company’s stock had a trading volume of 121,799 shares. 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 price is $198.54 and its 200-day moving average price is $183.01. The stock has a market cap of $39.51 billion, a price-to-earnings ratio of 25.37 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $1.54 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Constellation Brands Inc will post $8.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. Constellation Brands’s payout ratio is currently 26.03%.
STZ has been the subject of several research reports. Vetr cut Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 target price for the company. in a research note on Monday, May 22nd. BidaskClub cut Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Morgan Stanley reissued an “overweight” rating and issued a $204.00 target price on shares of Constellation Brands in a research note on Monday, June 12th. Royal Bank Of Canada reissued a “buy” rating on shares of Constellation Brands in a research note on Friday, June 16th. Finally, Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $202.00.
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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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