Constellation Brands Inc (STZ) Stake Raised by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. increased its stake in Constellation Brands Inc (NYSE:STZ) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,529 shares of the company’s stock after buying an additional 2,601 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Constellation Brands were worth $8,820,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STZ. State of Alaska Department of Revenue bought a new position in Constellation Brands during the first quarter valued at about $391,000. DUPONT CAPITAL MANAGEMENT Corp raised its position in Constellation Brands by 922.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 75,984 shares of the company’s stock valued at $12,315,000 after buying an additional 68,552 shares in the last quarter. Bourgeon Capital Management LLC bought a new position in Constellation Brands during the first quarter valued at about $2,536,000. Wetherby Asset Management Inc. raised its position in Constellation Brands by 15.2% in the first quarter. Wetherby Asset Management Inc. now owns 1,989 shares of the company’s stock valued at $322,000 after buying an additional 263 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in Constellation Brands by 12.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,802 shares of the company’s stock valued at $2,398,000 after buying an additional 1,637 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.
Shares of Constellation Brands Inc (NYSE STZ) opened at 198.27 on Monday. The stock’s 50 day moving average price is $195.94 and its 200 day moving average price is $177.85. The company has a market cap of $38.72 billion, a PE ratio of 24.87 and a beta of 0.06. Constellation Brands Inc has a one year low of $144.00 and a one year high of $199.89.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Equities analysts predict that Constellation Brands Inc will post $8.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.05%. Constellation Brands’s dividend payout ratio is currently 26.03%.
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STZ has been the subject of several recent analyst reports. Vetr lowered Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective for the company. in a research note on Tuesday, May 16th. BidaskClub lowered Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Morgan Stanley reiterated an “overweight” rating and set a $204.00 price objective on shares of Constellation Brands in a research note on Monday, June 12th. Royal Bank Of Canada reiterated a “buy” rating on shares of Constellation Brands in a research note on Friday, June 16th. Finally, Zacks Investment Research lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $200.53.
In other news, VP Thomas J. Mullin sold 23,827 shares of Constellation Brands stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares in the company, valued at $15,205,387.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas Michael Kane sold 4,940 shares of Constellation Brands stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the completion of the transaction, the vice president now owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,118 shares of company stock worth $21,052,835. Company insiders own 15.59% of the company’s stock.
Constellation Brands Company 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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