Pacer Advisors Inc. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,275 shares of the company’s stock after buying an additional 2,507 shares during the quarter. Pacer Advisors Inc.’s holdings in Constellation Brands were worth $4,203,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in STZ. Atlantic Union Bankshares Corp purchased a new position in shares of Constellation Brands in the 2nd quarter valued at approximately $1,221,000. Barry Investment Advisors LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $202,000. Advisory Services Network LLC lifted its holdings in shares of Constellation Brands by 17.9% in the 1st quarter. Advisory Services Network LLC now owns 9,705 shares of the company’s stock valued at $1,702,000 after buying an additional 1,470 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of Constellation Brands by 22.0% in the 2nd quarter. Maverick Capital Ltd. now owns 24,420 shares of the company’s stock valued at $4,809,000 after buying an additional 4,410 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Constellation Brands by 0.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 354,503 shares of the company’s stock valued at $69,815,000 after buying an additional 2,982 shares during the period. Hedge funds and other institutional investors own 72.10% of the company’s stock.
Several analysts have recently commented on the company. Jefferies Financial Group raised their price target on Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a report on Monday, July 1st. HSBC set a $235.00 price target on Constellation Brands and gave the company a “buy” rating in a report on Tuesday, September 17th. SunTrust Banks raised their price target on Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. UBS Group raised their price target on Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Credit Suisse Group reduced their price target on Constellation Brands from $230.00 to $228.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $223.76.
NYSE STZ opened at $193.08 on Friday. Constellation Brands, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $228.49. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. The business has a fifty day moving average of $202.54 and a 200-day moving average of $196.86. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.12. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the firm posted $2.87 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts anticipate that Constellation Brands, Inc. will post 8.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.75 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. Constellation Brands’s dividend payout ratio (DPR) is 32.33%.
In other news, major shareholder Richard Sands sold 95,521 shares of Constellation Brands stock in a transaction 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 completion of the sale, the insider now owns 173,379 shares of the company’s stock, valued at $35,468,142.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the completion of the sale, the director now directly owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. Insiders own 15.86% of the company’s stock.
Constellation Brands 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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