First Trust Advisors LP boosted its position in shares of Constellation Brands Inc (NYSE:STZ) by 275.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,844 shares of the company’s stock after buying an additional 99,695 shares during the period. First Trust Advisors LP owned approximately 0.07% of Constellation Brands worth $27,094,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. DSAM Partners London Ltd bought a new position in Constellation Brands during the second quarter valued at approximately $21,659,000. Brighton Jones LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $245,000. Cipher Capital LP bought a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $7,833,000. D L Carlson Investment Group Inc. lifted its stake in shares of Constellation Brands by 22.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock valued at $5,310,000 after purchasing an additional 5,005 shares during the last quarter. Finally, Oak Ridge Investments LLC lifted its stake in shares of Constellation Brands by 24.4% in the 2nd quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock valued at $6,956,000 after purchasing an additional 7,052 shares during the last quarter. 74.98% of the stock is owned by institutional investors.
STZ has been the subject of several analyst reports. Cowen and Company reaffirmed a “buy” rating and issued a $230.00 price objective 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 price target on shares of Constellation Brands in a research note on Wednesday, August 2nd. BidaskClub lowered Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Pivotal Research raised their price target on Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Argus raised their price target on Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $216.00.
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Constellation Brands Inc (STZ) opened at 219.09 on Wednesday. The stock has a market capitalization of $42.86 billion, a P/E ratio of 25.17 and a beta of 0.04. The company’s 50-day moving average price is $206.60 and its 200 day moving average price is $192.70. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $219.29.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the 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 return on equity of 22.81% and a net margin of 21.47%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 earnings per share. Equities research analysts expect that Constellation Brands Inc will post $8.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, November 6th. Constellation Brands’s payout ratio is 23.85%.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the transaction, the vice president now directly owns 86,005 shares in the company, valued at approximately $16,727,972.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,786 shares of company stock worth $24,740,206. Corporate insiders own 15.59% of the company’s stock.
Constellation Brands 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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