Deltec Asset Management LLC acquired a new stake in shares of Constellation Brands Inc. (NYSE:STZ) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,450 shares of the company’s stock, valued at approximately $405,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invictus RG purchased a new position in Constellation Brands during the first quarter worth $110,000. Daiwa SB Investments Ltd. purchased a new position in Constellation Brands during the second quarter worth $134,000. NN Investment Partners Holdings N.V. purchased a new position in Constellation Brands during the first quarter worth $165,000. Tompkins Financial Corp raised its position in Constellation Brands by 44.2% in the second quarter. Tompkins Financial Corp now owns 1,110 shares of the company’s stock worth $184,000 after buying an additional 340 shares during the last quarter. Finally, Atria Investments LLC purchased a new position in Constellation Brands during the second quarter worth $203,000. 75.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc. (NYSE:STZ) traded up 1.81% on Wednesday, reaching $165.79. 1,050,041 shares of the company’s stock traded hands. Constellation Brands Inc. has a 52 week low of $122.35 and a 52 week high of $168.68. The firm’s 50 day moving average is $164.88 and its 200 day moving average is $158.53. The firm has a market capitalization of $33.24 billion, a P/E ratio of 29.87 and a beta of 0.72.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. Analysts expect that Constellation Brands Inc. will post $6.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.97%. The ex-dividend date was Monday, August 8th. Constellation Brands’s dividend payout ratio (DPR) is 28.78%.
A number of research firms have weighed in on STZ. SunTrust Banks Inc. reiterated a “buy” rating and issued a $180.00 price target on shares of Constellation Brands in a research report on Friday, June 3rd. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price target for the company in a research report on Friday, July 1st. Credit Suisse Group AG began coverage on shares of Constellation Brands in a research report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price target for the company. Susquehanna reiterated a “hold” rating on shares of Constellation Brands in a research report on Monday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $181.00 target price on shares of Constellation Brands in a report on Wednesday, June 22nd. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $174.46.
In related news, VP Thomas J. Mullin sold 9,516 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the sale, the vice president now owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Eric Klein sold 14,300 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $166.27, for a total value of $2,377,661.00. Following the sale, the chief financial officer now directly owns 36,152 shares in the company, valued at approximately $6,010,993.04. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.
About Constellation Brands
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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