Constellation Brands Inc (STZ) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 298,152 shares of the company’s stock after selling 194 shares during the period. Rhumbline Advisers’ holdings in Constellation Brands were worth $57,761,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Hillman Co. raised its stake in shares of Constellation Brands by 27.1% in the first quarter. Hillman Co. now owns 183,470 shares of the company’s stock valued at $29,735,000 after buying an additional 39,122 shares during the period. United Capital Financial Advisers LLC raised its stake in shares of Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after buying an additional 797 shares during the period. Coconut Grove Bank raised its stake in shares of Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock valued at $144,000 after buying an additional 458 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Constellation Brands by 8.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 601,095 shares of the company’s stock valued at $97,419,000 after buying an additional 46,985 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Constellation Brands by 44.4% in the first quarter. Nationwide Fund Advisors now owns 121,213 shares of the company’s stock valued at $19,645,000 after buying an additional 37,296 shares during the period. Institutional investors and hedge funds own 76.14% of the company’s stock.

Shares of Constellation Brands Inc (NYSE:STZ) traded up 0.32% on Friday, reaching $195.31. The company’s stock had a trading volume of 42,562 shares. The company has a 50 day moving average price of $193.29 and a 200 day moving average price of $174.15. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89. The company has a market cap of $38.14 billion, a P/E ratio of 24.50 and a beta of 0.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts anticipate that Constellation Brands Inc will post $8.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio is 26.03%.

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A number of brokerages have recently issued reports on STZ. Morgan Stanley boosted their target price on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. Zacks Investment Research lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $198.00 target price (down from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. BidaskClub raised Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 target price on Constellation Brands and gave the stock a “hold” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and an average target price of $200.53.

In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of Constellation Brands stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the sale, the vice president now owns 8,914 shares of the company’s stock, valued at approximately $1,722,897.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Fromberg sold 2,000 shares of Constellation Brands stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $195.93, for a total value of $391,860.00. Following the completion of the sale, the director now directly owns 22,820 shares in the company, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders sold a total of 95,601 shares of company stock worth $18,586,986 in the last three months. Company insiders own 15.59% of the company’s stock.

Constellation Brands Company 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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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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