ETRADE Capital Management LLC lowered its position in Constellation Brands Inc (NYSE:STZ) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,330 shares of the company’s stock after selling 573 shares during the quarter. ETRADE Capital Management LLC’s holdings in Constellation Brands were worth $2,858,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Hanson McClain Inc. grew its stake in Constellation Brands by 0.4% in the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after purchasing an additional 3 shares in the last quarter. Welch Group LLC grew its stake in Constellation Brands by 2.9% in the second quarter. Welch Group LLC now owns 885 shares of the company’s stock worth $171,000 after purchasing an additional 25 shares in the last quarter. Ray Gerald L & Associates Ltd. grew its stake in Constellation Brands by 0.7% in the second quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock worth $897,000 after purchasing an additional 30 shares in the last quarter. LMR Partners LLP grew its stake in Constellation Brands by 1.9% in the second quarter. LMR Partners LLP now owns 2,559 shares of the company’s stock worth $496,000 after purchasing an additional 47 shares in the last quarter. Finally, Veritable L.P. grew its stake in Constellation Brands by 1.8% in the second quarter. Veritable L.P. now owns 3,447 shares of the company’s stock worth $668,000 after purchasing an additional 61 shares in the last quarter. 73.51% of the stock is currently owned by institutional investors.
In other news, Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider William A. Newlands sold 2,935 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,662 shares of company stock valued at $15,564,585. Company insiders own 15.59% of the company’s stock.
Shares of Constellation Brands Inc (NYSE STZ) traded up $1.43 during midday trading on Friday, reaching $221.88. The company’s stock had a trading volume of 303,028 shares, compared to its average volume of 998,308. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69. The company has a market cap of $43,401.28, a PE ratio of 26.89, a PEG ratio of 1.43 and a beta of 0.10. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $227.20.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter last year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. analysts forecast that Constellation Brands Inc will post 8.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were issued a dividend of $0.52 per share. The ex-dividend date was Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 0.94%. Constellation Brands’s dividend payout ratio is presently 23.85%.
STZ has been the topic of several research analyst reports. Macquarie initiated coverage on Constellation Brands in a research note on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price objective on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $226.00 price objective on shares of Constellation Brands in a research note on Sunday, November 12th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research report on Friday, October 6th. Pivotal Research increased their target price on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Susquehanna Bancshares Inc set a $200.00 target price on Constellation Brands and gave the company a “hold” rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $216.00.
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Constellation Brands 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.
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