Arrow Financial Corp reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,104 shares of the company’s stock after selling 282 shares during the period. Arrow Financial Corp’s holdings in Constellation Brands were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of STZ. Meeder Asset Management Inc. boosted its stake in shares of Constellation Brands by 2,750.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after purchasing an additional 165 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Constellation Brands by 265.3% in the 2nd quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares in the last quarter. Next Capital Management LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $35,000. Capital Bank & Trust Co acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $39,000. Finally, TCG Advisors LP acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $40,000. Institutional investors own 72.11% of the company’s stock.
Constellation Brands stock traded down $2.92 during mid-day trading on Monday, hitting $192.92. 813,428 shares of the stock were exchanged, compared to its average volume of 1,781,472. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $214.48. The firm’s fifty day simple moving average is $200.63 and its two-hundred day simple moving average is $198.12. The stock has a market capitalization of $37.69 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.95 and a beta of 0.69.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.12. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $2.87 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts forecast 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 issued a dividend of $0.75 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.00 annualized dividend and a yield of 1.56%. Constellation Brands’s payout ratio is 10.02%.
In other Constellation Brands news, major shareholder Richard Sands sold 95,521 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the transaction, the insider now owns 173,379 shares in the company, valued at approximately $35,468,142.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.86% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on STZ. UBS Group raised their price target on shares of Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. SunTrust Banks raised their price target on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Citigroup set a $210.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Monday, July 1st. BMO Capital Markets lifted their target price on shares of Constellation Brands from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley cut their target price on shares of Constellation Brands from $227.00 to $214.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $223.76.
Constellation Brands Company 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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