Andra AP fonden lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,900 shares of the company’s stock after selling 800 shares during the period. Andra AP fonden’s holdings in Constellation Brands were worth $2,881,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Lenox Wealth Management Inc. bought a new stake in shares of Constellation Brands during the 3rd quarter valued at $25,000. Meeder Asset Management Inc. grew its position in shares of Constellation Brands by 2,750.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 165 shares during the period. Next Capital Management LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $35,000. Capital Bank & Trust Co bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $39,000. Finally, TCG Advisors LP bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $40,000. 72.15% of the stock is owned by institutional investors and hedge funds.
STZ has been the subject of a number of recent research reports. MKM Partners cut their price objective on shares of Constellation Brands to $256.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 price objective for the company in a research report on Monday, September 23rd. Credit Suisse Group cut their price objective 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. OTR Global raised shares of Constellation Brands to a “positive” rating in a research report on Friday, September 27th. Finally, Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research report on Friday, August 9th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $223.76.
STZ opened at $186.08 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.61. Constellation Brands, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $214.48. The firm’s fifty day moving average is $189.24 and its 200 day moving average is $195.28. The stock has a market cap of $35.66 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.12. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company earned $2.87 EPS. Constellation Brands’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands, Inc. will post 8.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, November 7th. Constellation Brands’s payout ratio is currently 10.02%.
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. 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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