Russell Investments Group Ltd. raised its position in shares of Constellation Brands Inc (NYSE:STZ) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,935 shares of the company’s stock after purchasing an additional 15,540 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Constellation Brands worth $46,657,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in STZ. North Star Investment Management Corp. raised its position in Constellation Brands by 11.6% during the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after purchasing an additional 78 shares in the last quarter. Wright Investors Service Inc. raised its position in Constellation Brands by 22.4% during the second quarter. Wright Investors Service Inc. now owns 10,788 shares of the company’s stock valued at $2,090,000 after purchasing an additional 1,975 shares in the last quarter. Forsta AP Fonden acquired a new position in Constellation Brands during the second quarter valued at approximately $7,284,000. Financial Architects Inc raised its position in Constellation Brands by 1.4% during the second quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock valued at $344,000 after purchasing an additional 25 shares in the last quarter. Finally, Hermes Investment Management Ltd. raised its position in Constellation Brands by 16.8% during the second quarter. Hermes Investment Management Ltd. now owns 38,322 shares of the company’s stock valued at $7,424,000 after purchasing an additional 5,503 shares in the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Mullin sold 18,227 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now owns 72,924 shares of the company’s stock, valued at approximately $15,825,237.24. The disclosure for this sale can be found here. Insiders sold a total of 86,179 shares of company stock worth $18,030,434 in the last 90 days. 15.59% of the stock is currently owned by company insiders.
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Several research analysts have recently issued reports on the stock. Cowen and Company reiterated a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a report on Wednesday, August 2nd. Pivotal Research upped their price target on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $193.00 price target (up from $169.00) on shares of Constellation Brands in a report on Monday, October 2nd. Finally, Macquarie assumed coverage on shares of Constellation Brands in a report on Thursday, September 14th. They set an “outperform” rating and a $227.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $216.00.
Constellation Brands Inc (NYSE:STZ) opened at $216.43 on Monday. The stock has a market cap of $42,307.84, a PE ratio of 26.22, a PEG ratio of 1.39 and a beta of 0.10. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. Constellation Brands Inc has a 1 year low of $144.00 and a 1 year high of $227.20.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business’s revenue was up 3.1% on a year-over-year basis. research analysts forecast that Constellation Brands Inc will post 8.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a $0.52 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio is presently 23.85%.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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