Zurich Insurance Group Ltd FI lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,432 shares of the company’s stock after buying an additional 1,425 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Constellation Brands were worth $8,947,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Constellation Brands by 14.7% in the first quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Constellation Brands by 1.0% in the second quarter. Vanguard Group Inc. now owns 12,137,423 shares of the company’s stock valued at $2,390,344,000 after purchasing an additional 122,268 shares during the last quarter. Bank of America Corp DE boosted its holdings in Constellation Brands by 65.0% in the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock valued at $697,895,000 after purchasing an additional 1,395,888 shares during the last quarter. Jennison Associates LLC boosted its holdings in Constellation Brands by 120.4% in the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock valued at $537,087,000 after purchasing an additional 1,490,064 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Constellation Brands by 11.4% in the second quarter. Janus Henderson Group PLC now owns 2,363,365 shares of the company’s stock valued at $465,445,000 after purchasing an additional 242,621 shares during the last quarter. 72.10% of the stock is owned by institutional investors.
In other news, Director Jeremy S. G. Fowden sold 10,213 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the sale, the director now directly owns 27,630 shares in the company, valued at approximately $5,452,780.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by corporate insiders.
Shares of Constellation Brands stock traded down $2.24 on Friday, reaching $205.10. 1,554,699 shares of the company were exchanged, compared to its average volume of 898,383. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22. The company’s 50-day moving average is $200.21 and its two-hundred day moving average is $193.53. The firm has a market cap of $39.72 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 3.11 and a beta of 0.69. Constellation Brands, Inc. has a 1-year low of $150.37 and a 1-year high of $228.91.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.15. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 8.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Monday, August 12th. Constellation Brands’s payout ratio is 32.33%.
A number of research analysts recently commented on STZ shares. Evercore ISI set a $220.00 price target on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. Macquarie set a $220.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Wednesday, June 5th. HSBC set a $235.00 target price on Constellation Brands and gave the stock a “buy” rating in a report on Tuesday, September 17th. SunTrust Banks increased their target price on Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Finally, UBS Group increased their target price on Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $225.36.
About Constellation Brands
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.
See Also: Producer Price Index (PPI)
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