Castle Rock Wealth Management LLC grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 32.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,017 shares of the company’s stock after purchasing an additional 736 shares during the period. Castle Rock Wealth Management LLC’s holdings in Constellation Brands were worth $598,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of STZ. Jackson Square Partners LLC bought a new position in Constellation Brands during the first quarter worth $395,015,000. BlackRock Inc. raised its stake in Constellation Brands by 14.7% in the first quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock valued at $2,374,922,000 after purchasing an additional 1,734,902 shares in the last quarter. Jennison Associates LLC raised its stake in Constellation Brands by 120.4% in the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock valued at $537,087,000 after purchasing an additional 1,490,064 shares in the last quarter. Janus Henderson Group PLC raised its stake in Constellation Brands by 53.3% in the first quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock valued at $371,831,000 after purchasing an additional 737,613 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. raised its stake in Constellation Brands by 99.3% in the first quarter. Menora Mivtachim Holdings LTD. now owns 341,260 shares of the company’s stock valued at $59,833,000 after purchasing an additional 170,000 shares in the last quarter. Institutional investors own 72.30% of the company’s stock.
NYSE:STZ traded up $0.40 during trading on Friday, reaching $204.37. The company’s stock had a trading volume of 4,674 shares, compared to its average volume of 927,160. The firm has a 50 day moving average of $199.69 and a 200-day moving average of $192.12. The firm has a market cap of $39.07 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 3.13 and a beta of 0.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.71 and a current ratio of 1.22. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $228.91.
Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, June 28th. The company reported $2.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.15. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.07 billion. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. Equities research analysts forecast that Constellation Brands, Inc. will post 8.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Constellation Brands’s payout ratio is currently 32.33%.
In other news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the sale, the insider now directly owns 173,379 shares of the company’s stock, valued at $35,468,142.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $197.35, for a total value of $2,015,535.55. Following the transaction, the director now owns 27,630 shares in the company, valued at approximately $5,452,780.50. The disclosure for this sale can be found here. Company insiders own 15.86% of the company’s stock.
Several research analysts have commented on the company. SunTrust Banks boosted their target price on Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Monday, July 1st. Barclays restated a “buy” rating and set a $238.00 price target on shares of Constellation Brands in a report on Tuesday, July 2nd. Jefferies Financial Group upped their target price on Constellation Brands from $264.00 to $274.00 and gave the company a “buy” rating in a report on Monday, July 1st. Evercore ISI set a $220.00 target price on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Bank of America set a $221.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Monday, July 1st. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned 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 price target of $220.10.
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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