Peddock Capital Advisors LLC lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,902 shares of the company’s stock after selling 704 shares during the quarter. Constellation Brands makes up 2.1% of Peddock Capital Advisors LLC’s portfolio, making the stock its 9th largest holding. Peddock Capital Advisors LLC’s holdings in Constellation Brands were worth $3,711,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Berman Capital Advisors LLC increased its holdings in Constellation Brands by 31.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 219 shares of the company’s stock valued at $43,000 after acquiring an additional 53 shares during the last quarter. Sky Investment Group LLC increased its holdings in Constellation Brands by 0.6% in the 2nd quarter. Sky Investment Group LLC now owns 9,618 shares of the company’s stock valued at $1,894,000 after acquiring an additional 55 shares during the last quarter. Grove Bank & Trust increased its holdings in Constellation Brands by 2.3% in the 2nd quarter. Grove Bank & Trust now owns 2,413 shares of the company’s stock valued at $475,000 after acquiring an additional 55 shares during the last quarter. Chicago Equity Partners LLC increased its holdings in Constellation Brands by 2.0% in the 2nd quarter. Chicago Equity Partners LLC now owns 3,575 shares of the company’s stock valued at $704,000 after acquiring an additional 70 shares during the last quarter. Finally, Veritable L.P. increased its holdings in Constellation Brands by 1.6% in the 2nd quarter. Veritable L.P. now owns 4,495 shares of the company’s stock valued at $885,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 72.15% of the company’s stock.
In related news, major shareholder Richard Sands sold 95,521 shares of Constellation Brands stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the transaction, the insider now directly owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.86% of the stock is currently owned by insiders.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.12. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company earned $2.87 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 8.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. Constellation Brands’s dividend payout ratio is presently 32.33%.
A number of analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Constellation Brands from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. UBS Group lifted their price target on shares of Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Evercore ISI set a $220.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. MKM Partners reduced their price target on shares of Constellation Brands to $256.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Jefferies Financial Group boosted their target price on shares of Constellation Brands from $264.00 to $274.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $223.76.
Constellation Brands Profile
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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