FCG Advisors LLC bought a new position in Constellation Brands Inc (NYSE:STZ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,737 shares of the company’s stock, valued at approximately $337,000.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Constellation Brands by 3,310.4% in the 1st quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after buying an additional 11,264,949 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Constellation Brands in the 1st quarter valued at approximately $132,686,000. Marshall Wace North America L.P. acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $132,686,000. OZ Management LP acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $121,982,000. Finally, Alliancebernstein L.P. increased its position in Constellation Brands by 203.6% during the 1st quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock valued at $145,011,000 after purchasing an additional 600,001 shares during the period. 74.95% of the stock is owned by hedge funds and other institutional investors.
Constellation Brands Inc (STZ) traded down 0.16% on Friday, reaching $204.06. The company’s stock had a trading volume of 451,905 shares. The stock has a market cap of $39.85 billion, a P/E ratio of 25.59 and a beta of 0.03. Constellation Brands Inc has a one year low of $144.00 and a one year high of $205.12. The stock has a 50-day moving average of $198.02 and a 200-day moving average of $182.02.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the 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 firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. Constellation Brands’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, August 7th. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
In other news, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $193.28, for a total value of $954,803.20. Following the completion of the transaction, the vice president now directly owns 8,914 shares in the company, valued at $1,722,897.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William F. Hackett sold 12,517 shares of the stock in a transaction that occurred on 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. In the last 90 days, insiders sold 108,118 shares of company stock valued at $21,052,835. 15.59% of the stock is owned by insiders.
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A number of analysts have weighed in on the stock. UBS AG increased their target price on shares of Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research report on Friday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. Cowen and Company reaffirmed a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Stifel Nicolaus increased their target price on Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and a consensus price target of $202.00.
Constellation Brands Company 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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