NGAM Advisors L.P. decreased its stake in Constellation Brands Inc (NYSE:STZ) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,018 shares of the company’s stock after selling 67 shares during the period. NGAM Advisors L.P.’s holdings in Constellation Brands were worth $2,328,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after buying an additional 11,264,949 shares during the last quarter. State Street Corp boosted its stake in Constellation Brands by 0.5% in the first quarter. State Street Corp now owns 7,391,582 shares of the company’s stock valued at $1,197,945,000 after buying an additional 39,246 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Constellation Brands by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock valued at $741,999,000 after buying an additional 378,620 shares during the last quarter. Egerton Capital UK LLP boosted its stake in Constellation Brands by 10.4% in the first quarter. Egerton Capital UK LLP now owns 2,485,583 shares of the company’s stock valued at $402,838,000 after buying an additional 234,607 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Constellation Brands by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,045,867 shares of the company’s stock valued at $331,574,000 after buying an additional 71,963 shares during the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.
Constellation Brands Inc (NYSE 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 stock has a 50 day moving average price of $193.61 and a 200 day moving average price of $174.46. The company has a market cap of $38.21 billion, a price-to-earnings ratio of 24.54 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be given a $0.52 dividend. The ex-dividend date is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. Constellation Brands’s dividend payout ratio (DPR) is presently 26.03%.
Several analysts recently weighed in on STZ shares. Morgan Stanley lifted their price target on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. BidaskClub raised Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a report on Wednesday, August 2nd. UBS AG lifted their price target on Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, June 30th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $216.00 price target (up from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $200.53.
In related news, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the sale, the director now owns 22,820 shares in the company, valued at $4,471,122.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $954,803.20. Following the completion of the sale, the vice president now owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. Insiders sold 95,601 shares of company stock worth $18,586,986 in the last quarter. 15.59% of the stock is currently 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, 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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