Pacer Advisors Inc. raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,275 shares of the company’s stock after buying an additional 2,507 shares during the quarter. Pacer Advisors Inc.’s holdings in Constellation Brands were worth $4,203,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in STZ. Meeder Asset Management Inc. raised its stake in Constellation Brands by 2,750.0% during the second quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after buying an additional 165 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Constellation Brands by 265.3% during the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the last quarter. Next Capital Management LLC bought a new position in shares of Constellation Brands during the second quarter valued at approximately $35,000. Meridian Wealth Management LLC bought a new position in shares of Constellation Brands during the first quarter valued at approximately $39,000. Finally, Capital Bank & Trust Co bought a new position in shares of Constellation Brands during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.10% of the company’s stock.
Shares of NYSE STZ opened at $193.08 on Friday. The stock has a fifty day moving average price of $202.54 and a two-hundred day moving average price of $196.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.61. The firm has a market cap of $36.68 billion, a P/E ratio of 20.95, a PEG ratio of 2.87 and a beta of 0.69. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $228.49.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.12. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $2.87 EPS. On average, research analysts predict that Constellation Brands, Inc. will post 8.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s payout ratio is currently 32.33%.
Several research firms have recently commented on STZ. Evercore ISI set a $220.00 target price on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a report on Thursday, October 3rd. UBS Group increased their price objective on Constellation Brands from $195.00 to $212.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. SunTrust Banks increased their price objective on Constellation Brands from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Monday, July 1st. Finally, MKM Partners decreased their price objective on Constellation Brands to $256.00 and set a “buy” rating for the company in a report on Friday, October 4th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $223.76.
In other Constellation Brands news, Director Jeremy S. G. Fowden sold 10,213 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the completion of the transaction, the director now directly owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total value of $19,540,730.97. Following the transaction, the insider now directly owns 173,379 shares of the company’s stock, valued at $35,468,142.03. The disclosure for this sale can be found here. Company insiders own 15.86% 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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