BB&T Securities LLC boosted its stake in shares of Constellation Brands Inc (NYSE:STZ) by 89.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,598 shares of the company’s stock after buying an additional 7,823 shares during the period. BB&T Securities LLC’s holdings in Constellation Brands were worth $2,690,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the period. Tompkins Financial Corp boosted its stake in Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock valued at $116,000 after buying an additional 175 shares during the period. Hanson McClain Inc. boosted its stake in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Barometer Capital Management Inc. bought a new stake in Constellation Brands during the first quarter valued at $130,000. Finally, Coconut Grove Bank boosted its position in shares of Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock worth $144,000 after buying an additional 458 shares during the last quarter. 76.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc (NYSE:STZ) traded up 0.91% during trading on Tuesday, hitting $184.95. 435,248 shares of the company were exchanged. The firm’s 50-day moving average price is $180.42 and its 200 day moving average price is $163.59. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $186.55. The firm has a market capitalization of $36.03 billion, a PE ratio of 24.59 and a beta of 0.31.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.12. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. Constellation Brands had a net margin of 19.04% and a return on equity of 19.69%. Constellation Brands’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. On average, equities research analysts expect that Constellation Brands Inc will post $7.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were issued a $0.52 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, May 8th. Constellation Brands’s payout ratio is 27.59%.
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A number of equities research analysts have issued reports on STZ shares. Susquehanna Bancshares Inc set a $147.00 price target on shares of Constellation Brands and gave the stock a “hold” rating in a report on Saturday, February 25th. Wells Fargo & Co reaffirmed an “outperform” rating on shares of Constellation Brands in a research note on Monday, April 10th. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Thursday, March 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $205.00 price objective (up previously from $183.00) on shares of Constellation Brands in a research note on Friday, April 7th. Finally, OTR Global lowered shares of Constellation Brands to a “positive” rating in a research note on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Constellation Brands presently has an average rating of “Buy” and a consensus price target of $184.80.
In other Constellation Brands news, VP Thomas J. Mullin sold 39,854 shares of the business’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $169.55, for a total transaction of $6,757,245.70. Following the sale, the vice president now directly owns 48,900 shares in the company, valued at $8,290,995. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry A. Fromberg sold 700 shares of the business’s stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $170.03, for a total transaction of $119,021.00. Following the sale, the director now owns 21,520 shares in the company, valued at $3,659,045.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,244 shares of company stock worth $10,445,048. 15.59% of the stock is owned by insiders.
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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