Bank of New York Mellon Corp lowered its stake in Constellation Brands Inc (NYSE:STZ) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,003,977 shares of the company’s stock after selling 41,890 shares during the period. Bank of New York Mellon Corp owned about 1.03% of Constellation Brands worth $388,230,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Capital Financial Advisers LLC increased 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 in the last quarter. Coconut Grove Bank increased its stake in 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. increased its stake 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 valued at $97,419,000 after buying an additional 46,985 shares during the period. Nationwide Fund Advisors increased its stake in 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. Finally, Xact Kapitalforvaltning AB increased its stake in Constellation Brands by 8.3% in the first quarter. Xact Kapitalforvaltning AB now owns 13,623 shares of the company’s stock valued at $2,208,000 after buying an additional 1,044 shares during the period. Institutional investors own 74.99% of the company’s stock.
Shares of Constellation Brands Inc (NYSE:STZ) opened at 198.57 on Thursday. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89. The stock’s 50 day moving average is $194.90 and its 200-day moving average is $175.63. The firm has a market cap of $38.78 billion, a P/E ratio of 24.91 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.95 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands Inc will post $8.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
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Several analysts recently commented on STZ shares. BidaskClub downgraded shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Royal Bank Of Canada reiterated a “buy” rating on shares of Constellation Brands in a research report on Friday, June 16th. Stifel Nicolaus upped their price target on shares of Constellation Brands from $201.00 to $216.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $198.00 price target (down previously from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $200.53.
In other news, VP Thomas Michael Kane sold 4,940 shares of the company’s 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 transaction, the vice president now owns 8,914 shares of the company’s stock, valued at $1,722,897.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas J. Mullin sold 23,827 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $193.64, for a total value of $4,613,860.28. Following the transaction, the vice president now directly owns 78,524 shares in the company, valued at approximately $15,205,387.36. The disclosure for this sale can be found here. Insiders have sold 95,601 shares of company stock worth $18,586,986 in the last 90 days. 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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