SVA Plumb Wealth Management LLC lessened its position in shares of Constellation Brands Inc (NYSE:STZ) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,683 shares of the company’s stock after selling 932 shares during the quarter. Constellation Brands comprises 1.3% of SVA Plumb Wealth Management LLC’s holdings, making the stock its 13th biggest position. SVA Plumb Wealth Management LLC’s holdings in Constellation Brands were worth $9,819,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James Trust N.A. raised its stake in shares of Constellation Brands by 29.0% during the 2nd quarter. Raymond James Trust N.A. now owns 2,723 shares of the company’s stock worth $527,000 after acquiring an additional 612 shares in the last quarter. Oak Ridge Investments LLC raised its stake in shares of Constellation Brands by 24.4% during the 2nd quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock worth $6,956,000 after acquiring an additional 7,052 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Constellation Brands by 87.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after acquiring an additional 786,726 shares in the last quarter. FCG Advisors LLC bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $337,000. Finally, Aberdeen Asset Management PLC UK raised its stake in shares of Constellation Brands by 0.5% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 36,490 shares of the company’s stock worth $7,069,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.
Several research firms recently commented on STZ. Wells Fargo & Company reiterated an “outperform” rating and set a $216.00 price objective (up previously from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) downgraded shares of Constellation Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $212.00 to $210.00 in a research report on Monday, July 24th. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $220.00 target price on shares of Constellation Brands in a research report on Wednesday, August 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $218.00 target price on shares of Constellation Brands in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $200.53.
Constellation Brands Inc (STZ) traded up 0.31% during trading on Tuesday, hitting $204.34. 217,060 shares of the company traded hands. The company’s 50-day moving average is $196.96 and its 200 day moving average is $181.20. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $205.12. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 25.63 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm posted $1.54 EPS. Constellation Brands’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands Inc will post $8.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a $0.52 dividend. The ex-dividend date was Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the sale, the vice president now directly owns 8,914 shares in the company, valued at approximately $1,722,897.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas J. Mullin sold 23,827 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the sale, the vice president now owns 78,524 shares in the company, valued at $15,205,387.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,118 shares of company stock worth $21,052,835. 15.59% of the stock is currently owned by insiders.
Constellation Brands 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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