Stratos Wealth Partners LTD. raised its position in Constellation Brands, Inc. (NYSE:STZ) by 30.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,473 shares of the company’s stock after acquiring an additional 1,032 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Constellation Brands were worth $784,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. HC Financial Advisors Inc. boosted its stake in shares of Constellation Brands by 11.7% during the 3rd quarter. HC Financial Advisors Inc. now owns 5,810 shares of the company’s stock worth $1,253,000 after acquiring an additional 610 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Constellation Brands by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 627,903 shares of the company’s stock valued at $135,388,000 after buying an additional 5,975 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Constellation Brands by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after buying an additional 30,782 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Constellation Brands during the 4th quarter valued at $282,000. Finally, NuWave Investment Management LLC lifted its stake in shares of Constellation Brands by 35,140.0% during the 4th quarter. NuWave Investment Management LLC now owns 7,048 shares of the company’s stock valued at $1,134,000 after buying an additional 7,028 shares in the last quarter. 74.05% of the stock is currently owned by institutional investors.
In other news, Vice Chairman Richard Sands sold 23,984 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $206.47, for a total value of $4,951,976.48. Following the sale, the insider now directly owns 173,860 shares in the company, valued at approximately $35,896,874.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Eric Klein sold 25,980 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the completion of the sale, the executive vice president now owns 69,852 shares in the company, valued at $13,876,798.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,646 shares of company stock worth $15,572,098. Insiders own 15.80% of the company’s stock.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that Constellation Brands, Inc. will post 8.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.75 dividend. The ex-dividend date is Thursday, May 9th. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Constellation Brands’s payout ratio is 10.02%.
A number of research analysts recently weighed in on STZ shares. Credit Suisse Group started coverage on shares of Constellation Brands in a research note on Wednesday, March 6th. They set an “outperform” rating and a $230.00 target price on the stock. Barclays set a $226.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, April 5th. Atlantic Securities started coverage on shares of Constellation Brands in a research note on Monday, January 21st. They set an “overweight” rating and a $227.00 target price on the stock. Morgan Stanley set a $233.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a research note on Thursday, February 14th. Finally, Jefferies Financial Group lifted their target price on shares of Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a research note on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $223.13.
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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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