Gamco Investors INC. ET AL lessened its stake in shares of Constellation Brands Inc (NYSE:STZ) by 8.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,656 shares of the company’s stock after selling 1,550 shares during the period. Gamco Investors INC. ET AL’s holdings in Constellation Brands were worth $3,322,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in STZ. Bank of Montreal Can lifted its position in shares of Constellation Brands by 3.2% during the 2nd quarter. Bank of Montreal Can now owns 98,693 shares of the company’s stock valued at $19,120,000 after acquiring an additional 3,081 shares during the period. State of Alaska Department of Revenue raised its holdings in Constellation Brands by 48.0% during the second quarter. State of Alaska Department of Revenue now owns 3,578 shares of the company’s stock worth $693,000 after buying an additional 1,160 shares during the last quarter. Concorde Asset Management LLC acquired a new position in Constellation Brands during the second quarter worth $410,000. V Wealth Management LLC acquired a new position in Constellation Brands during the second quarter worth $165,000. Finally, Advisors Capital Management LLC acquired a new position in Constellation Brands during the second quarter worth $272,000. Institutional investors own 74.38% of the company’s stock.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas J. Mullin sold 18,227 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the transaction, the vice president now owns 72,924 shares of the company’s stock, valued at approximately $15,825,237.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,179 shares of company stock valued at $18,030,434. 15.59% of the stock is owned by company insiders.
Several research analysts have weighed in on the stock. Royal Bank Of Canada restated a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a report on Sunday. Wells Fargo & Company restated an “outperform” rating and set a $216.00 price objective (up previously from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. Cowen and Company restated a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a report on Thursday, August 3rd. Pivotal Research upped their price objective on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and set a $193.00 price objective (up previously from $169.00) on shares of Constellation Brands in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $216.00.
Constellation Brands Inc (NYSE:STZ) opened at $218.67 on Monday. The firm has a market cap of $42,773.38, a PE ratio of 26.50, a P/E/G ratio of 1.41 and a beta of 0.10. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. Constellation Brands Inc has a 1 year low of $144.00 and a 1 year high of $219.56.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. equities analysts forecast that Constellation Brands Inc will post 8.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.95%. Constellation Brands’s payout ratio is currently 23.85%.
About Constellation Brands
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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