Investors Purchase High Volume of Constellation Brands Put Options (STZ)

Constellation Brands, Inc. (NYSE:STZ) was the target of unusually large options trading on Monday. Traders bought 37,770 put options on the stock. This represents an increase of approximately 919% compared to the average daily volume of 3,705 put options.

In related news, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Mullin sold 18,227 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total value of $3,955,441.27. Following the transaction, the vice president now owns 72,924 shares of the company’s stock, valued at approximately $15,825,237.24. The disclosure for this sale can be found here. 15.59% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Constellation Brands by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock valued at $2,268,295,000 after buying an additional 103,312 shares during the period. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock valued at $2,184,613,000 after buying an additional 350,346 shares during the period. Egerton Capital UK LLP increased its stake in shares of Constellation Brands by 13.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock valued at $612,522,000 after buying an additional 353,490 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Constellation Brands by 488.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after buying an additional 990,152 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Constellation Brands by 4,909.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock valued at $219,829,000 after buying an additional 1,112,065 shares during the period. 74.86% of the stock is owned by institutional investors.

Several equities analysts recently commented on the company. Evercore ISI raised their target price on Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. SunTrust Banks restated a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research report on Friday, October 6th. Pivotal Research raised their target price on Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Morgan Stanley raised their target price on Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Finally, Citigroup restated a “neutral” rating and set a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $229.00.

Constellation Brands (NYSE STZ) opened at $217.52 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69. Constellation Brands has a 52-week low of $146.71 and a 52-week high of $229.50. The stock has a market capitalization of $42,570.00, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.08.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.13. Constellation Brands had a return on equity of 22.49% and a net margin of 22.55%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $1.96 EPS. equities research analysts expect that Constellation Brands will post 8.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.96%. Constellation Brands’s payout ratio is 11.30%.

Constellation Brands announced that its board has approved a stock buyback plan on Friday, January 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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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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