Peddock Capital Advisors LLC lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,902 shares of the company’s stock after selling 704 shares during the quarter. Constellation Brands comprises approximately 2.1% of Peddock Capital Advisors LLC’s portfolio, making the stock its 9th largest holding. Peddock Capital Advisors LLC’s holdings in Constellation Brands were worth $3,711,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in STZ. Meeder Asset Management Inc. grew its position in Constellation Brands by 2,750.0% in the second quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock worth $34,000 after acquiring an additional 165 shares in the last quarter. Gradient Investments LLC boosted its position in Constellation Brands by 265.3% during the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after buying an additional 130 shares during the period. Next Capital Management LLC purchased a new stake in Constellation Brands during the second quarter valued at about $35,000. Meridian Wealth Management LLC purchased a new stake in Constellation Brands during the first quarter valued at about $39,000. Finally, Capital Bank & Trust Co purchased a new stake in Constellation Brands during the second quarter valued at about $39,000. 72.15% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the sale, the insider now directly owns 173,379 shares in the company, valued at $35,468,142.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 15.86% of the company’s stock.
Several analysts have issued reports on the stock. OTR Global upgraded shares of Constellation Brands to a “positive” rating in a research report on Friday, September 27th. Credit Suisse Group cut their price target on shares of Constellation Brands from $230.00 to $228.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 price target for the company in a research report on Monday, September 23rd. Citigroup set a $210.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Monday, July 1st. Finally, Bank of America set a $221.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Monday, July 1st. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $223.76.
Shares of Constellation Brands stock traded up $1.06 during trading on Wednesday, reaching $197.82. 39,312 shares of the stock were exchanged, compared to its average volume of 1,350,003. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average is $202.07 and its 200 day moving average is $197.34. The firm has a market cap of $37.00 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 2.90 and a beta of 0.69. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $228.49.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.12. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. Constellation Brands’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 earnings per share. Equities analysts forecast that Constellation Brands, Inc. will post 8.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.52%. Constellation Brands’s dividend payout ratio is currently 32.33%.
About Constellation Brands
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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