Parsons Capital Management Inc. RI increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,772 shares of the company’s stock after purchasing an additional 275 shares during the period. Parsons Capital Management Inc. RI’s holdings in Constellation Brands were worth $2,515,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of STZ. Versant Capital Management Inc grew its stake in shares of Constellation Brands by 210.9% in the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after purchasing an additional 97 shares during the last quarter. Mosaic Family Wealth LLC bought a new stake in shares of Constellation Brands in the first quarter worth $27,000. Bay Harbor Wealth Management LLC bought a new stake in shares of Constellation Brands in the first quarter worth $33,000. Gradient Investments LLC grew its stake in shares of Constellation Brands by 265.3% in the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Constellation Brands by 74.4% in the first quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after purchasing an additional 90 shares during the last quarter. 71.37% of the stock is currently owned by institutional investors.
In other news, CMO James A. Jr. Sabia sold 4,275 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total transaction of $832,342.50. Following the transaction, the chief marketing officer now owns 43,494 shares in the company, valued at $8,468,281.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the transaction, the director now owns 27,630 shares in the company, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by corporate insiders.
Several analysts recently weighed in on STZ shares. Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays reaffirmed a “buy” rating and set a $238.00 price target on shares of Constellation Brands in a research report on Tuesday, July 2nd. Citigroup set a $210.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Monday, July 1st. SunTrust Banks upped their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Monday, July 1st. Finally, Bank of America set a $221.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Monday, July 1st. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $223.83.
STZ traded up $0.65 during trading on Thursday, reaching $194.01. 20,039 shares of the stock traded hands, compared to its average volume of 944,738. The company has a 50-day simple moving average of $197.04. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $228.91. The stock has a market capitalization of $36.99 billion, a PE ratio of 20.91, a PEG ratio of 2.89 and a beta of 0.71. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.94.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.15. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands, Inc. will post 8.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, August 12th. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio is currently 32.33%.
Constellation Brands Company 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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