BB&T Corp lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,829 shares of the company’s stock after selling 6,681 shares during the period. BB&T Corp’s holdings in Constellation Brands were worth $2,245,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in shares of 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 during the period. Gradient Investments LLC boosted its position 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 buying an additional 130 shares during the period. Next Capital Management LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $35,000. TCG Advisors LP purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $40,000. Finally, Capital Bank & Trust Co purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.08% of the company’s stock.
Constellation Brands stock opened at $193.21 on Thursday. The business has a fifty day moving average of $197.67 and a two-hundred day moving average of $198.19. The firm has a market cap of $36.60 billion, a P/E ratio of 20.82, a P/E/G ratio of 2.87 and a beta of 0.67. 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 twelve month low of $150.37 and a twelve month high of $214.48.
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, topping analysts’ consensus estimates of $2.60 by $0.12. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.87 earnings per share. Equities analysts expect that Constellation Brands, Inc. will post 8.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 7th. Constellation Brands’s payout ratio is presently 10.02%.
In other news, major shareholder Richard Sands sold 95,521 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.86% of the company’s stock.
A number of analysts recently issued reports on the company. HSBC set a $235.00 price target on Constellation Brands and gave the company a “buy” rating in a report on Tuesday, September 17th. Credit Suisse Group lowered their price target on Constellation Brands from $230.00 to $228.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Morgan Stanley lowered their price target on Constellation Brands from $227.00 to $214.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. Evercore ISI set a $220.00 price target on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. Finally, OTR Global upgraded Constellation Brands to a “positive” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $223.76.
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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