Swiss National Bank decreased its stake in Constellation Brands Inc (NYSE:STZ) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 763,016 shares of the company’s stock after selling 30,500 shares during the period. Swiss National Bank owned 0.39% of Constellation Brands worth $147,819,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Harbour Capital Advisors LLC acquired a new stake in Constellation Brands during the 1st quarter worth $117,000. Hanson McClain Inc. lifted its stake in shares of Constellation Brands by 0.3% in the 1st quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock worth $125,000 after acquiring an additional 2 shares during the period. Coconut Grove Bank lifted its stake in shares of Constellation Brands by 106.8% in the 1st quarter. Coconut Grove Bank now owns 887 shares of the company’s stock worth $144,000 after acquiring an additional 458 shares during the period. North Star Investment Management Corp. lifted its stake in shares of Constellation Brands by 11.6% in the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after acquiring an additional 78 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in shares of Constellation Brands by 609.1% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 74.95% of the company’s stock.
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A number of brokerages have recently issued reports on STZ. Macquarie began coverage on shares of Constellation Brands in a report on Thursday. They issued an “outperform” rating and a $227.00 price target for the company. Wells Fargo & Company restated an “outperform” rating and set a $216.00 target price (up from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $212.00 to $210.00 in a report on Monday, July 24th. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a report on Wednesday, August 2nd. 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’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $202.00.
Constellation Brands Inc (STZ) traded down 0.48% during mid-day trading on Friday, reaching $203.40. 1,398,954 shares of the company’s stock traded hands. The stock has a market capitalization of $39.72 billion, a PE ratio of 25.51 and a beta of 0.03. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $205.12. The firm’s 50-day moving average price is $198.27 and its 200 day moving average price is $182.34.
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, beating the consensus estimate of $1.98 by $0.36. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Equities research analysts predict 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. Investors of record on Wednesday, August 9th were given 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 payout ratio is 26.03%.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the transaction, the vice president now owns 8,914 shares in the company, valued at $1,722,897.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Mullin sold 23,827 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value of $4,613,860.28. Following the completion of the transaction, the vice president now owns 78,524 shares in the company, valued at approximately $15,205,387.36. 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 owned by corporate insiders.
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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