Zevenbergen Capital Investments LLC raised its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 111.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,794 shares of the company’s stock after acquiring an additional 4,634 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Constellation Brands were worth $1,754,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its stake in Constellation Brands by 50.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after acquiring an additional 193 shares in the last quarter. Hanson McClain Inc. grew its stake in Constellation Brands by 0.4% during the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after acquiring an additional 3 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Constellation Brands by 609.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after acquiring an additional 670 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in Constellation Brands during the 2nd quarter valued at about $157,000. Finally, Acrospire Investment Management LLC grew its stake in Constellation Brands by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $155,000 after acquiring an additional 400 shares in the last quarter. 73.51% of the stock is currently owned by institutional investors.
In related news, VP Thomas J. Mullin sold 18,227 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the sale, the vice president now directly owns 72,924 shares in the company, valued at approximately $15,825,237.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,662 shares of company stock valued at $15,564,585. Corporate insiders own 15.59% of the company’s stock.
Several equities analysts have weighed in on the company. Cowen Inc reaffirmed a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 target price on shares of Constellation Brands in a research note on Wednesday, August 2nd. Pivotal Research lifted their target price on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $193.00 price target (up previously from $169.00) on shares of Constellation Brands in a research note on Monday, October 2nd. Finally, Macquarie initiated coverage on Constellation Brands in a research note on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $216.00.
Constellation Brands Inc (NYSE:STZ) traded up $1.43 on Monday, reaching $221.88. The company had a trading volume of 303,000 shares, compared to its average volume of 1,466,239. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $227.20. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The firm has a market cap of $43,401.28, a price-to-earnings ratio of 26.89, a P/E/G ratio of 1.43 and a beta of 0.10.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company earned $1.77 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts expect that Constellation Brands Inc will post 8.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th were issued a $0.52 dividend. The ex-dividend date was Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.94%. Constellation Brands’s dividend payout ratio (DPR) is currently 23.85%.
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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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