Mitchell Capital Management Co. boosted its holdings in Constellation Brands Inc (NYSE:STZ) by 99.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,650 shares of the company’s stock after buying an additional 14,266 shares during the quarter. Constellation Brands accounts for about 2.1% of Mitchell Capital Management Co.’s investment portfolio, making the stock its 26th largest position. Mitchell Capital Management Co.’s holdings in Constellation Brands were worth $5,714,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Forsta AP Fonden grew its position in Constellation Brands by 31.6% in the third quarter. Forsta AP Fonden now owns 49,500 shares of the company’s stock worth $9,873,000 after buying an additional 11,900 shares during the last quarter. Wedbush Securities Inc. grew its position in Constellation Brands by 12.9% in the third quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock worth $634,000 after buying an additional 362 shares during the last quarter. Csenge Advisory Group acquired a new position in Constellation Brands in the third quarter worth approximately $222,000. Andra AP fonden grew its position in Constellation Brands by 10.7% in the third quarter. Andra AP fonden now owns 41,500 shares of the company’s stock worth $8,277,000 after buying an additional 4,000 shares during the last quarter. Finally, Concorde Asset Management LLC grew its position in Constellation Brands by 96.2% in the third quarter. Concorde Asset Management LLC now owns 4,149 shares of the company’s stock worth $828,000 after buying an additional 2,034 shares during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $209.45, for a total transaction of $10,472,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was 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. In the last ninety days, insiders sold 67,952 shares of company stock valued at $14,074,993. 15.59% of the stock is owned by company insiders.
Several equities analysts have weighed in on the stock. Cowen and Company reiterated a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a research report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. Wells Fargo & Company reiterated an “outperform” rating and set a $216.00 price objective (up from $215.00) on shares of Constellation Brands in a research report on Saturday, July 22nd. Pivotal Research lifted their price objective on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $193.00 price objective (up from $169.00) on shares of Constellation Brands in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $216.00.
Constellation Brands Inc (STZ) traded up $1.59 during mid-day trading on Friday, hitting $215.91. 853,182 shares of the company traded hands, compared to its average volume of 1,207,176. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.69 and a current ratio of 1.61. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $219.56. The firm has a market cap of $42,233.51, a price-to-earnings ratio of 26.17, a PEG ratio of 1.73 and a beta of 0.10.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $1.77 EPS. Constellation Brands’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts anticipate that Constellation Brands Inc will post 8.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Monday, November 6th. Constellation Brands’s payout ratio is presently 23.85%.
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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