Private Advisor Group LLC increased its holdings in Constellation Brands (NYSE:STZ) by 45.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,977 shares of the company’s stock after acquiring an additional 3,120 shares during the quarter. Private Advisor Group LLC’s holdings in Constellation Brands were worth $2,274,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in STZ. Intrust Bank NA boosted its position in shares of Constellation Brands by 5.9% during the 1st quarter. Intrust Bank NA now owns 4,096 shares of the company’s stock worth $933,000 after purchasing an additional 229 shares in the last quarter. MAI Capital Management boosted its position in shares of Constellation Brands by 4.6% during the 4th quarter. MAI Capital Management now owns 5,742 shares of the company’s stock worth $1,312,000 after purchasing an additional 254 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX boosted its position in shares of Constellation Brands by 9.9% during the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,855 shares of the company’s stock worth $653,000 after purchasing an additional 258 shares in the last quarter. Jacobi Capital Management LLC boosted its position in shares of Constellation Brands by 103.6% in the 1st quarter. Jacobi Capital Management LLC now owns 507 shares of the company’s stock worth $116,000 after buying an additional 258 shares in the last quarter. Finally, First Personal Financial Services boosted its position in shares of Constellation Brands by 20.7% in the 4th quarter. First Personal Financial Services now owns 1,530 shares of the company’s stock worth $350,000 after buying an additional 262 shares in the last quarter. 72.49% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on STZ. Royal Bank of Canada reiterated a “buy” rating and issued a $280.00 price objective on shares of Constellation Brands in a research report on Monday, April 2nd. Pivotal Research boosted their price objective on shares of Constellation Brands from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, March 29th. Deutsche Bank boosted their price objective on shares of Constellation Brands from $253.00 to $256.00 and gave the stock a “buy” rating in a research report on Friday, March 23rd. ValuEngine upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $245.77.
In related news, Director James A. Locke III sold 6,398 shares of the stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $230.50, for a total transaction of $1,474,739.00. Following the completion of the sale, the director now owns 44,954 shares of the company’s stock, valued at approximately $10,361,897. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Stenzel sold 7,971 shares of the stock in a transaction that occurred on Wednesday, April 25th. The stock was sold at an average price of $225.50, for a total transaction of $1,797,460.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,269 shares of company stock valued at $8,048,757. Corporate insiders own 15.59% of the company’s stock.
NYSE STZ opened at $220.30 on Monday. Constellation Brands has a 12 month low of $176.21 and a 12 month high of $236.62. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.79 and a quick ratio of 0.71. The stock has a market cap of $42.16 billion, a PE ratio of 25.26, a P/E/G ratio of 1.24 and a beta of 0.09.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, March 29th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.16. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.76 billion. Constellation Brands had a net margin of 27.85% and a return on equity of 22.28%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. analysts expect that Constellation Brands will post 9.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Wednesday, May 9th. This is an increase from Constellation Brands’s previous quarterly dividend of $0.52. Constellation Brands’s dividend payout ratio is 33.94%.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.
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