CIBC Private Wealth Group LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,210 shares of the company’s stock after acquiring an additional 150 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Constellation Brands were worth $665,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 1.0% during the second quarter. Vanguard Group Inc. now owns 12,137,423 shares of the company’s stock worth $2,390,344,000 after acquiring an additional 122,268 shares during the period. Bank of America Corp DE increased its stake in shares of Constellation Brands by 65.0% during the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock worth $697,895,000 after acquiring an additional 1,395,888 shares during the period. Jennison Associates LLC increased its stake in shares of Constellation Brands by 120.4% during the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock worth $537,087,000 after acquiring an additional 1,490,064 shares during the period. Janus Henderson Group PLC increased its stake in shares of Constellation Brands by 11.4% during the second quarter. Janus Henderson Group PLC now owns 2,363,365 shares of the company’s stock worth $465,445,000 after acquiring an additional 242,621 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Constellation Brands by 68.1% during the second quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock worth $305,847,000 after acquiring an additional 629,124 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.
In other Constellation Brands news, major shareholder Richard Sands sold 95,521 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 of the company’s stock, valued at $35,468,142.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.86% of the stock is owned by corporate insiders.
STZ has been the topic of a number of recent analyst reports. SunTrust Banks boosted their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Thursday, October 3rd. OTR Global upgraded shares of Constellation Brands to a “positive” rating in a research note on Friday, September 27th. Argus boosted their price objective on shares of Constellation Brands to $230.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, MKM Partners decreased their price objective on shares of Constellation Brands to $256.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $223.76.
STZ stock opened at $196.81 on Wednesday. The company has a market cap of $37.76 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.95 and a beta of 0.69. Constellation Brands, Inc. has a 52 week low of $150.37 and a 52 week high of $218.45. The company’s 50-day moving average price is $201.30 and its 200 day moving average price is $198.07. The company has a current ratio of 1.61, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.12. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the firm earned $2.87 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Constellation Brands, Inc. will post 8.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 10.02%.
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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