Barings LLC Boosts Stake in Constellation Brands Inc (STZ)

Barings LLC lifted its holdings in Constellation Brands Inc (NYSE:STZ) by 65.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,904 shares of the company’s stock after buying an additional 750 shares during the period. Barings LLC’s holdings in Constellation Brands were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of STZ. BlackRock Inc. boosted its stake in shares of Constellation Brands by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock worth $2,268,295,000 after purchasing an additional 103,312 shares during the period. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock worth $2,184,613,000 after purchasing an additional 350,346 shares during the period. Egerton Capital UK LLP boosted its stake in shares of Constellation Brands by 13.0% during the 3rd quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after purchasing an additional 353,490 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Constellation Brands by 87.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after purchasing an additional 786,726 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Constellation Brands by 488.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after purchasing an additional 990,152 shares during the period. Hedge funds and other institutional investors own 75.04% of the company’s stock.

Shares of Constellation Brands Inc (NYSE:STZ) traded up $0.48 on Wednesday, hitting $216.82. 1,123,600 shares of the stock traded hands, compared to its average volume of 1,460,566. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $227.20. The stock has a market cap of $42,317.62, a PE ratio of 26.22, a PEG ratio of 1.39 and a beta of 0.08. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. equities analysts expect that Constellation Brands Inc will post 8.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were given a $0.52 dividend. The ex-dividend date was Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Constellation Brands’s payout ratio is presently 23.85%.

STZ has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, October 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $226.00 price target on shares of Constellation Brands in a research note on Sunday, November 12th. Evercore ISI reissued an “outperform” rating and issued a $235.00 price objective (up from $230.00) on shares of Constellation Brands in a research report on Friday, October 6th. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Finally, Citigroup reissued a “neutral” rating and issued a $232.00 price objective (up from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $216.00.

In related news, insider William A. Newlands sold 2,935 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $210.10, for a total transaction of $616,643.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Insiders sold a total of 73,662 shares of company stock valued at $15,564,585 in the last ninety days. Corporate insiders own 15.59% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Barings LLC Boosts Stake in Constellation Brands Inc (STZ)” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2017/12/06/barings-llc-boosts-stake-in-constellation-brands-inc-stz.html.

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.

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply