RMR Wealth Builders purchased a new position in Constellation Brands, Inc. (NYSE:STZ) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 457 shares of the company’s stock, valued at approximately $80,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Enterprise Bank & Trust Co grew its stake in Constellation Brands by 0.7% during the 2nd quarter. Enterprise Bank & Trust Co now owns 10,544 shares of the company’s stock worth $1,845,000 after buying an additional 70 shares during the last quarter. Ellevest Inc. increased its holdings in shares of Constellation Brands by 84.1% during the second quarter. Ellevest Inc. now owns 162 shares of the company’s stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. Evercore Wealth Management LLC raised its position in shares of Constellation Brands by 3.1% in the 1st quarter. Evercore Wealth Management LLC now owns 2,603 shares of the company’s stock valued at $373,000 after purchasing an additional 78 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Constellation Brands by 1.9% in the 2nd quarter. International Assets Investment Management LLC now owns 4,312 shares of the company’s stock worth $754,000 after purchasing an additional 80 shares in the last quarter. Finally, Ausdal Financial Partners Inc. grew its position in Constellation Brands by 2.2% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,758 shares of the company’s stock worth $657,000 after purchasing an additional 82 shares during the last quarter. 71.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Constellation Brands stock traded down $1.21 on Wednesday, hitting $195.38. The company’s stock had a trading volume of 17,983 shares, compared to its average volume of 1,498,718. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 1,092.23, a price-to-earnings-growth ratio of 2.07 and a beta of 0.97. Constellation Brands, Inc. has a 1 year low of $104.28 and a 1 year high of $210.65. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.18 and a current ratio of 1.94. The firm has a fifty day moving average price of $181.08 and a 200-day moving average price of $169.36.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.01 by $0.29. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. As a group, analysts forecast that Constellation Brands, Inc. will post 8.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Monday, August 10th. Constellation Brands’s dividend payout ratio is presently 10.20%.
Several research firms have recently commented on STZ. Jefferies Financial Group lifted their price objective on shares of Constellation Brands from $224.00 to $238.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Guggenheim lifted their price target on Constellation Brands from $149.00 to $159.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. increased 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. Credit Suisse Group raised their price objective on Constellation Brands from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Deutsche Bank upped their target price on Constellation Brands from $176.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $197.32.
In other news, Chairman Robert Sands sold 90,184 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $181.20, for a total value of $16,341,340.80. Following the transaction, the chairman now owns 644,719 shares in the company, valued at $116,823,082.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Richard Sands sold 151,404 shares of Constellation Brands stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 301,280 shares in the company, valued at $54,582,897.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,052,364 shares of company stock worth $189,856,440. Insiders own 15.77% of the company’s stock.
Constellation Brands 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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