Huntington National Bank boosted its position in shares of Constellation Brands Inc. (NYSE:STZ) by 197.3% during the second quarter, Holdings Channel reports. The firm owned 177,820 shares of the company’s stock after buying an additional 118,004 shares during the period. Huntington National Bank’s holdings in Constellation Brands were worth $29,412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of STZ. Invictus RG purchased a new position in Constellation Brands during the first quarter worth about $110,000. Daiwa SB Investments Ltd. purchased a new position in Constellation Brands during the second quarter worth about $134,000. NN Investment Partners Holdings N.V. purchased a new position in Constellation Brands during the first quarter worth about $165,000. Tompkins Financial Corp boosted 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 period. Finally, Atria Investments LLC purchased a new position in Constellation Brands during the second quarter worth about $203,000. Institutional investors own 75.05% of the company’s stock.
Shares of Constellation Brands Inc. (NYSE:STZ) traded down 0.89% during trading on Tuesday, reaching $169.71. 1,181,258 shares of the company were exchanged. The stock’s 50-day moving average is $165.79 and its 200-day moving average is $160.75. Constellation Brands Inc. has a 52-week low of $130.23 and a 52-week high of $173.55. The firm has a market cap of $34.12 billion, a price-to-earnings ratio of 29.20 and a beta of 0.63.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The firm earned $2.02 billion during the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. Constellation Brands’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. Equities research analysts predict that Constellation Brands Inc. will post $6.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, November 4th. Constellation Brands’s payout ratio is currently 27.49%.
A number of research analysts have recently issued reports on the stock. Pivotal Research reiterated a “buy” rating and issued a $200.00 target price on shares of Constellation Brands in a research note on Thursday, October 6th. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price objective for the company in a research report on Friday, July 1st. Citigroup Inc. restated a “neutral” rating and issued a $191.00 price objective (up previously from $180.00) on shares of Constellation Brands in a research report on Sunday. Morgan Stanley restated an “overweight” rating and issued a $194.00 price objective (up previously from $191.00) on shares of Constellation Brands in a research report on Saturday. Finally, 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 objective for the company. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $181.25.
In related news, VP Thomas J. Mullin sold 9,516 shares of Constellation Brands stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the completion of the transaction, the vice president now owns 88,602 shares of the company’s stock, valued at $14,745,144.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Michael Kane sold 7,000 shares of Constellation Brands stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the transaction, the vice president now directly owns 8,764 shares of the company’s stock, valued at approximately $1,430,810.64. The disclosure for this sale can be found here. Insiders own 10.63% of the company’s stock.
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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