Principal Financial Group Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 242,925 shares of the company’s stock after selling 917 shares during the quarter. Principal Financial Group Inc.’s holdings in Constellation Brands were worth $42,592,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of Constellation Brands by 210.9% during the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after purchasing an additional 97 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth $32,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth $33,000. CNB Bank purchased a new position in shares of Constellation Brands during the 4th quarter worth $34,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Constellation Brands by 74.4% during the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after purchasing an additional 90 shares during the period. 70.84% of the stock is owned by hedge funds and other institutional investors.
Constellation Brands stock traded down $4.85 during midday trading on Wednesday, reaching $190.11. 24,875 shares of the stock traded hands, compared to its average volume of 2,306,944. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $234.26. The stock has a market capitalization of $36.89 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.16 and a quick ratio of 0.49.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 4th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.12. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. Constellation Brands’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. Equities research analysts anticipate that Constellation Brands, Inc. will post 8.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, May 9th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio (DPR) is presently 10.02%.
A number of equities analysts have recently weighed in on the company. Deutsche Bank cut Constellation Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $191.00 to $194.00 in a report on Friday, April 5th. Credit Suisse Group assumed coverage on Constellation Brands in a report on Wednesday, March 6th. They set an “outperform” rating and a $230.00 price target for the company. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Morgan Stanley upgraded Constellation Brands to a “hold” rating in a report on Friday, April 5th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, February 21st. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and a consensus price target of $224.13.
In other news, Chairman Robert Sands sold 23,611 shares of Constellation Brands stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total value of $4,875,199.28. Following the completion of the transaction, the chairman now owns 570,857 shares in the company, valued at approximately $117,870,553.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Eric Klein sold 25,980 shares of Constellation Brands stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the completion of the transaction, the executive vice president now owns 69,852 shares of the company’s stock, valued at approximately $13,876,798.32. The disclosure for this sale can be found here. Insiders sold a total of 80,921 shares of company stock valued at $16,404,441 in the last quarter. Company insiders own 15.86% of the company’s stock.
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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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