Korea Investment CORP decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 98.2% during the 3rd quarter, Holdings Channel reports. The fund owned 2,944 shares of the company’s stock after selling 160,185 shares during the quarter. Korea Investment CORP’s holdings in Constellation Brands were worth $635,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Menora Mivtachim Holdings LTD. boosted its holdings in Constellation Brands by 89.0% during the third quarter. Menora Mivtachim Holdings LTD. now owns 171,260 shares of the company’s stock worth $36,927,000 after buying an additional 80,630 shares during the last quarter. Hoylecohen LLC bought a new position in Constellation Brands during the third quarter worth about $211,000. Schroder Investment Management Group boosted its holdings in Constellation Brands by 172.0% during the third quarter. Schroder Investment Management Group now owns 5,030 shares of the company’s stock worth $1,085,000 after buying an additional 3,181 shares during the last quarter. Baldwin Investment Management LLC bought a new position in Constellation Brands during the third quarter worth about $613,000. Finally, Third Point LLC boosted its holdings in Constellation Brands by 20.0% during the third quarter. Third Point LLC now owns 2,400,000 shares of the company’s stock worth $517,488,000 after buying an additional 400,000 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.
In other news, VP Thomas Michael Kane sold 4,419 shares of Constellation Brands stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $223.83, for a total transaction of $989,104.77. Following the transaction, the vice president now owns 8,499 shares in the company, valued at approximately $1,902,331.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Sands sold 136,547 shares of Constellation Brands stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $223.62, for a total value of $30,534,640.14. Following the completion of the sale, the chief executive officer now directly owns 737,607 shares in the company, valued at approximately $164,943,677.34. The disclosure for this sale can be found here. Insiders have sold a total of 578,723 shares of company stock worth $129,438,449 in the last quarter. 15.80% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on STZ shares. Pivotal Research restated a “buy” rating and set a $265.00 target price on shares of Constellation Brands in a report on Wednesday, August 15th. Cann reduced their target price on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Bank of America reduced their target price on Constellation Brands from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Deutsche Bank reduced their target price on Constellation Brands from $234.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Finally, UBS Group cut Constellation Brands to a “neutral” rating in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $244.27.
NYSE:STZ opened at $188.61 on Friday. Constellation Brands, Inc. has a fifty-two week low of $187.34 and a fifty-two week high of $236.62. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80. The stock has a market cap of $36.13 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.85 and a beta of 0.05.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.27. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business posted $2.47 EPS. Constellation Brands’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Constellation Brands, Inc. will post 9.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 33.94%.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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