Laurel Wealth Advisors Inc. cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,803 shares of the company’s stock after selling 145 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Constellation Brands were worth $1,931,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Comerica Securities Inc. raised its position in Constellation Brands by 7.7% during the 4th quarter. Comerica Securities Inc. now owns 4,330 shares of the company’s stock worth $696,000 after buying an additional 310 shares during the last quarter. Geode Capital Management LLC raised its holdings in Constellation Brands by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,937,070 shares of the company’s stock valued at $310,909,000 after buying an additional 120,139 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new stake in Constellation Brands during the 1st quarter valued at $160,000. First Allied Advisory Services Inc. raised its holdings in Constellation Brands by 25.4% during the 1st quarter. First Allied Advisory Services Inc. now owns 10,690 shares of the company’s stock valued at $1,882,000 after buying an additional 2,163 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in Constellation Brands by 40.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 9,081 shares of the company’s stock valued at $1,597,000 after buying an additional 2,606 shares during the last quarter. 72.30% of the stock is owned by institutional investors.
STZ has been the subject of a number of recent analyst reports. Macquarie set a $220.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a report on Wednesday, June 5th. Morgan Stanley upped their price target on shares of Constellation Brands from $207.00 to $217.00 and gave the company an “equal weight” rating in a report on Tuesday, July 2nd. Barclays reiterated a “buy” rating and set a $238.00 price target on shares of Constellation Brands in a report on Tuesday, July 2nd. SunTrust Banks upped their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Citigroup set a $210.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a report on Monday, July 1st. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $220.10.
In other news, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the sale, the director now owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Richard Sands sold 95,521 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the sale, the insider now directly owns 173,379 shares in the company, valued at approximately $35,468,142.03. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by company insiders.
NYSE STZ traded up $1.39 during trading hours on Friday, reaching $205.36. The stock had a trading volume of 3,327 shares, compared to its average volume of 927,160. The stock has a fifty day moving average of $199.69 and a 200 day moving average of $192.12. The stock has a market cap of $39.07 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 3.13 and a beta of 0.69. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $228.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.15. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Constellation Brands’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 8.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Monday, August 12th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.
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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