Seven Bridges Advisors LLC cut its position in Constellation Brands Inc. (NYSE:STZ) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,905 shares of the company’s stock after selling 1,635 shares during the period. Constellation Brands comprises about 2.4% of Seven Bridges Advisors LLC’s investment portfolio, making the stock its 5th largest position. Seven Bridges Advisors LLC’s holdings in Constellation Brands were worth $2,796,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in STZ. Invictus RG acquired a new position in shares of Constellation Brands during the first quarter worth $110,000. Daiwa SB Investments Ltd. acquired a new position in shares of Constellation Brands during the second quarter worth $134,000. NN Investment Partners Holdings N.V. acquired a new position in shares of Constellation Brands during the first quarter worth $165,000. Tompkins Financial Corp increased its position in shares of 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 acquired a new position in shares of Constellation Brands during the second quarter worth $203,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.
Shares of Constellation Brands Inc. (NYSE:STZ) traded down 1.17% on Monday, reaching $162.68. 1,320,872 shares of the company traded hands. Constellation Brands Inc. has a 1-year low of $122.35 and a 1-year high of $168.68. The firm has a market capitalization of $32.62 billion, a P/E ratio of 29.31 and a beta of 0.72. The stock has a 50-day moving average price of $164.82 and a 200 day moving average price of $158.34.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.02. The business had revenue of $1.87 billion for the quarter. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. Analysts anticipate that Constellation Brands Inc. will post $6.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Monday, August 8th. Constellation Brands’s dividend payout ratio is presently 28.78%.
A number of brokerages have recently weighed in on STZ. SunTrust Banks Inc. restated a “buy” rating and issued a $180.00 target price on shares of Constellation Brands in a research note on Friday, June 3rd. Credit Suisse Group AG began coverage on Constellation Brands in a research note on Thursday. They issued a “neutral” rating and a $178.00 target price on the stock. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 target price on the stock in a research note on Friday, July 1st. Susquehanna reiterated a “hold” rating on shares of Constellation Brands in a research note on Monday, August 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $181.00 price objective on shares of Constellation Brands in a research note on Wednesday, June 22nd. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $174.46.
In other news, CFO David Eric Klein sold 14,300 shares of Constellation Brands stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $166.27, for a total transaction of $2,377,661.00. Following the transaction, the chief financial officer now owns 36,152 shares in the company, valued at approximately $6,010,993.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 owns 8,764 shares in the company, 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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