State of Michigan Retirement System increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,887 shares of the company’s stock after purchasing an additional 4,512 shares during the period. State of Michigan Retirement System’s holdings in Constellation Brands were worth $7,503,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in shares of Constellation Brands by 4.6% in the first quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock valued at $3,308,000 after acquiring an additional 833 shares during the period. Guggenheim Capital LLC grew its position in shares of Constellation Brands by 6.8% during the 4th quarter. Guggenheim Capital LLC now owns 139,015 shares of the company’s stock worth $26,378,000 after purchasing an additional 8,869 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Constellation Brands by 6.1% during the fourth quarter. Sunbelt Securities Inc. now owns 1,758 shares of the company’s stock worth $334,000 after purchasing an additional 101 shares during the period. Verus Capital Partners LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $43,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Constellation Brands by 19.1% in the fourth quarter. Macquarie Group Ltd. now owns 1,008,425 shares of the company’s stock valued at $191,348,000 after buying an additional 161,607 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.
In other Constellation Brands news, Chairman Robert Sands sold 172,369 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $180.40, for a total transaction of $31,095,367.60. Following the sale, the chairman now owns 616,148 shares of the company’s stock, valued at $111,153,099.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Richard Sands sold 151,404 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $181.17, for a total value of $27,429,862.68. Following the sale, the insider now owns 301,280 shares of the company’s stock, valued at $54,582,897.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,052,364 shares of company stock valued at $189,856,440 in the last three months. Insiders own 15.77% of the company’s stock.
STZ stock opened at $178.20 on Friday. The company has a market capitalization of $34.36 billion, a P/E ratio of 19.33, a PEG ratio of 1.96 and a beta of 0.92. The company has a fifty day moving average price of $179.48 and a 200-day moving average price of $172.76. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. Constellation Brands, Inc. has a 52-week low of $104.28 and a 52-week high of $212.00.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $2.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.29. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. Constellation Brands’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 8.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, August 10th. Constellation Brands’s payout ratio is presently 32.89%.
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Constellation Brands from $200.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $200.00 price objective on shares of Constellation Brands in a research report on Monday, April 6th. Cowen raised their target price on shares of Constellation Brands from $160.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, June 1st. UBS Group boosted their target price on shares of Constellation Brands from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, MKM Partners increased their price target on shares of Constellation Brands from $147.00 to $151.00 in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $197.32.
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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