Howard Hughes Medical Institute cut its position in shares of Constellation Brands Inc (NYSE:STZ) by 16.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,181 shares of the company’s stock after selling 7,170 shares during the quarter. Constellation Brands accounts for 1.3% of Howard Hughes Medical Institute’s portfolio, making the stock its 14th biggest holding. Howard Hughes Medical Institute’s holdings in Constellation Brands were worth $7,203,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans grew its position in Constellation Brands by 1.4% during the second quarter. Thrivent Financial For Lutherans now owns 6,440 shares of the company’s stock worth $1,248,000 after buying an additional 90 shares in the last quarter. Profund Advisors LLC grew its position in Constellation Brands by 28.6% during the second quarter. Profund Advisors LLC now owns 5,425 shares of the company’s stock worth $1,051,000 after buying an additional 1,208 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Constellation Brands during the second quarter worth about $500,000. Amalgamated Bank grew its position in Constellation Brands by 51.0% during the second quarter. Amalgamated Bank now owns 19,235 shares of the company’s stock worth $3,726,000 after buying an additional 6,496 shares in the last quarter. Finally, BlackRock Inc. grew its position in Constellation Brands by 0.9% during the second quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock worth $2,268,295,000 after buying an additional 103,312 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.
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In related news, EVP William F. Hackett sold 12,517 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the transaction, the director now directly owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders have sold a total of 108,118 shares of company stock worth $21,052,835 in the last quarter. 15.59% of the stock is currently owned by company insiders.
Constellation Brands Inc (STZ) traded down 0.48% on Friday, hitting $203.40. 1,398,954 shares of the stock were exchanged. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $205.12. The company has a 50-day moving average price of $198.27 and a 200 day moving average price of $182.34. The company has a market capitalization of $39.72 billion, a PE ratio of 25.51 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.54 EPS. Analysts anticipate that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Monday, August 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.02%. Constellation Brands’s dividend payout ratio is 26.03%.
A number of equities research analysts recently weighed in on STZ shares. BidaskClub downgraded Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Royal Bank Of Canada restated a “buy” rating on shares of Constellation Brands in a research note on Friday, June 16th. Stifel Nicolaus raised their price target on shares of Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $198.00 price target (down previously from $200.00) on shares of Constellation Brands in a research note on Friday, June 23rd. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price target for the company in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and a consensus price target of $202.00.
Constellation Brands Profile
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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