Concorde Asset Management LLC acquired a new position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,115 shares of the company’s stock, valued at approximately $410,000.
Other hedge funds 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 position in Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock worth $1,477,000 after buying an additional 797 shares during the last quarter. Rathbone Brothers plc raised its position in Constellation Brands by 1.4% in the first quarter. Rathbone Brothers plc now owns 12,800 shares of the company’s stock worth $2,074,000 after buying an additional 180 shares during the last quarter. Coconut Grove Bank raised its position in Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock worth $144,000 after buying an additional 458 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Constellation Brands by 8.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 601,095 shares of the company’s stock worth $97,419,000 after buying an additional 46,985 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.
Shares of Constellation Brands Inc (STZ) opened at 195.65 on Friday. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $199.89. The firm has a market cap of $38.21 billion, a PE ratio of 24.54 and a beta of 0.06. The company’s 50-day moving average is $193.61 and its 200-day moving average is $174.46.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.08 annualized dividend and a yield of 1.06%. Constellation Brands’s dividend payout ratio is currently 26.03%.
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STZ has been the topic of several recent analyst reports. Vetr downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target on the stock. in a research note on Tuesday, May 16th. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a research note on Thursday, June 22nd. Argus upped their target price on shares of Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) raised shares of Constellation Brands from a “buy” rating to a “conviction-buy” rating and cut their target price for the stock from $200.00 to $168.95 in a research note on Monday, April 17th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $215.00 target price (up from $205.00) on shares of Constellation Brands in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Constellation Brands presently has an average rating of “Buy” and a consensus price target of $200.53.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the transaction, the vice president now directly owns 8,914 shares in the company, valued at $1,722,897.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas J. Mullin sold 23,827 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares of the company’s stock, valued at $15,205,387.36. The disclosure for this sale can be found here. Insiders have sold 95,601 shares of company stock valued at $18,586,986 over the last quarter. Corporate insiders own 15.59% 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, 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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