Deltec Asset Management LLC acquired a new position in shares of Constellation Brands Inc. (NYSE:STZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,450 shares of the company’s stock, valued at approximately $405,000.
Other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC raised its stake in shares of Constellation Brands by 14.3% in the first quarter. Nuveen Asset Management LLC now owns 207,493 shares of the company’s stock worth $31,350,000 after buying an additional 25,918 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Constellation Brands during the first quarter worth about $57,704,000. Natixis raised its stake in shares of Constellation Brands by 1,155.2% in the first quarter. Natixis now owns 305,995 shares of the company’s stock worth $46,233,000 after buying an additional 281,616 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Constellation Brands by 42.4% in the second quarter. CIBC World Markets Inc. now owns 76,159 shares of the company’s stock worth $12,597,000 after buying an additional 22,676 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Constellation Brands by 18.2% in the first quarter. Royal Bank of Canada now owns 266,963 shares of the company’s stock worth $40,334,000 after buying an additional 41,143 shares during the last quarter. 75.05% of the stock is currently owned by institutional investors and hedge funds.
Constellation Brands Inc. (NYSE:STZ) traded up 1.81% on Wednesday, reaching $165.79. The company had a trading volume of 1,050,041 shares. The company has a 50-day moving average of $164.88 and a 200 day moving average of $158.53. The stock has a market cap of $33.24 billion, a price-to-earnings ratio of 29.87 and a beta of 0.72. Constellation Brands Inc. has a one year low of $122.35 and a one year high of $168.68.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.02. The company had revenue of $1.87 billion for the quarter. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. On average, equities research analysts predict that Constellation Brands Inc. will post $6.31 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, August 8th. Constellation Brands’s dividend payout ratio (DPR) is currently 28.78%.
A number of research firms have recently commented on STZ. SunTrust Banks Inc. restated a “buy” rating and issued a $180.00 price objective on shares of Constellation Brands in a report on Friday, June 3rd. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, June 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $181.00 target price on shares of Constellation Brands in a report on Wednesday, June 22nd. Susquehanna reiterated a “hold” rating and set a $155.00 target price on shares of Constellation Brands in a report on Tuesday, June 28th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $174.46.
In related news, VP Thomas J. Mullin sold 30,000 shares of the firm’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $165.73, for a total transaction of $4,971,900.00. Following the sale, the vice president now owns 101,702 shares of the company’s stock, valued at approximately $16,855,072.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas J. Mullin sold 9,516 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the sale, the vice president now directly owns 88,602 shares in the company, valued at approximately $14,745,144.84. The disclosure for this sale can be found here. 10.63% of the stock is owned by insiders.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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