Constellation Brands Inc (NYSE:STZ) insider William A. Newlands sold 2,935 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $210.10, for a total transaction of $616,643.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Constellation Brands Inc (NYSE:STZ) opened at 207.40 on Friday. Constellation Brands Inc has a one year low of $144.00 and a one year high of $213.40. The firm has a 50-day moving average of $202.31 and a 200-day moving average of $188.19. The stock has a market cap of $40.57 billion, a PE ratio of 23.83 and a beta of 0.04.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 22.04% and a return on equity of 22.88%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business posted $1.77 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts expect that Constellation Brands Inc will post $8.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a $0.52 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 1.00%. Constellation Brands’s dividend payout ratio is currently 26.03%.
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Large investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in shares of Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after purchasing an additional 193 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at about $117,000. North Star Investment Management Corp. raised its holdings in shares of Constellation Brands by 11.6% in the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after purchasing an additional 78 shares in the last quarter. Hanson McClain Inc. raised its holdings in shares of Constellation Brands by 0.4% in the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after purchasing an additional 3 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Constellation Brands by 609.1% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after purchasing an additional 670 shares in the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.
Several equities analysts have recently commented on STZ shares. Argus upped their price objective on shares of Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $215.00 price objective (up from $205.00) on shares of Constellation Brands in a research note on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $212.00 price objective (up from $198.00) on shares of Constellation Brands in a research note on Friday, June 30th. Macquarie started coverage on shares of Constellation Brands in a research note on Thursday, September 14th. They set an “outperform” rating and a $227.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $216.00.
About Constellation Brands
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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