SVA Wealth Management LLC trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 27.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 29,950 shares of the company’s stock after selling 11,234 shares during the period. SVA Wealth Management LLC’s holdings in Constellation Brands were worth $5,898,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of STZ. Mosaic Family Wealth LLC bought a new stake in Constellation Brands in the 1st quarter worth about $27,000. Meeder Asset Management Inc. grew its position in Constellation Brands by 2,750.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock worth $34,000 after purchasing an additional 165 shares in the last quarter. Gradient Investments LLC grew its position in Constellation Brands by 265.3% in the 2nd quarter. Gradient Investments LLC now owns 179 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares in the last quarter. Next Capital Management LLC bought a new stake in Constellation Brands in the 2nd quarter worth about $35,000. Finally, Global Retirement Partners LLC grew its position in Constellation Brands by 74.4% in the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after purchasing an additional 90 shares in the last quarter. 72.30% of the stock is owned by institutional investors and hedge funds.
In other Constellation Brands news, Director Jeremy S. G. Fowden sold 10,213 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the sale, the director now directly owns 27,630 shares in the company, valued at approximately $5,452,780.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The disclosure for this sale can be found here. Corporate insiders own 15.86% of the company’s stock.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.15. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. Constellation Brands’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 8.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, August 12th. Constellation Brands’s dividend payout ratio is presently 32.33%.
A number of research analysts have recently weighed in on STZ shares. Citigroup set a $210.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research report on Monday, July 1st. SunTrust Banks increased their target price on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Monday, July 1st. UBS Group increased their target price on shares of Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Macquarie set a $220.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research report on Wednesday, June 5th. Finally, Jefferies Financial Group increased their target price on shares of Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $222.25.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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