IFC Holdings Incorporated FL raised its stake in shares of Constellation Brands Inc (NYSE:STZ) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,379 shares of the company’s stock after buying an additional 278 shares during the period. IFC Holdings Incorporated FL’s holdings in Constellation Brands were worth $873,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. New Jersey Better Educational Savings Trust acquired a new stake in shares of Constellation Brands during the 3rd quarter valued at $399,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Constellation Brands during the 3rd quarter valued at $23,934,000. Aperio Group LLC boosted its stake in shares of Constellation Brands by 22.7% during the 3rd quarter. Aperio Group LLC now owns 93,102 shares of the company’s stock valued at $18,569,000 after buying an additional 17,249 shares during the period. Huntington National Bank boosted its stake in shares of Constellation Brands by 3.5% during the 3rd quarter. Huntington National Bank now owns 200,830 shares of the company’s stock valued at $40,056,000 after buying an additional 6,853 shares during the period. Finally, Davis R M Inc. boosted its stake in shares of Constellation Brands by 25.5% during the 3rd quarter. Davis R M Inc. now owns 36,065 shares of the company’s stock valued at $7,193,000 after buying an additional 7,335 shares during the period. 74.98% of the stock is owned by institutional investors.
Shares of Constellation Brands Inc (NYSE STZ) traded up 1.31% on Tuesday, reaching $215.80. 220,533 shares of the company traded hands. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $216.51. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 24.79 and a beta of 0.04. The stock has a 50 day moving average of $206.18 and a 200 day moving average of $192.51.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. On average, analysts expect that Constellation Brands Inc will post $8.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s payout ratio is presently 23.85%.
A number of equities research analysts have issued reports on the stock. Argus lifted their target price on shares of Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. Wells Fargo & Company reissued an “outperform” rating and set a $216.00 target price (up previously from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. Cowen and Company reissued a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $220.00 target price on shares of Constellation Brands in a research note on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $193.00 target price (up previously from $169.00) on shares of Constellation Brands in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $216.00.
In other news, insider William A. Newlands sold 2,935 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Insiders sold 122,786 shares of company stock worth $24,740,206 over the last three months. 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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