Mission Wealth Management LP bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,582 shares of the company’s stock, valued at approximately $300,000.
A number of other large investors have also bought and sold shares of the stock. Vigilant Capital Management LLC raised its position in Constellation Brands by 3.1% during the third quarter. Vigilant Capital Management LLC now owns 88,269 shares of the company’s stock valued at $16,728,000 after buying an additional 2,637 shares during the period. Manchester Financial Inc. raised its position in Constellation Brands by 55.1% during the third quarter. Manchester Financial Inc. now owns 197 shares of the company’s stock valued at $37,000 after buying an additional 70 shares during the period. Diversified Trust Co acquired a new position in Constellation Brands during the third quarter valued at $226,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Constellation Brands by 3.9% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,358 shares of the company’s stock valued at $636,000 after buying an additional 126 shares during the period. Finally, DAVENPORT & Co LLC raised its position in Constellation Brands by 4.0% during the third quarter. DAVENPORT & Co LLC now owns 15,827 shares of the company’s stock valued at $2,999,000 after buying an additional 604 shares during the period. 71.77% of the stock is currently owned by hedge funds and other institutional investors.
STZ has been the topic of several research reports. Guggenheim upped their target price on Constellation Brands from $149.00 to $159.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. HSBC upped their target price on Constellation Brands from $147.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Citigroup upped their target price on Constellation Brands from $200.00 to $209.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. Morgan Stanley upped their target price on Constellation Brands from $196.00 to $203.00 and gave the stock an “equal weight” rating in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Constellation Brands from $185.00 to $196.00 and gave the stock a “hold” rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Constellation Brands currently has a consensus rating of “Hold” and a consensus target price of $198.37.
In other news, Chairman Robert Sands sold 90,184 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $181.20, for a total value of $16,341,340.80. Following the completion of the transaction, the chairman now directly owns 644,719 shares of the company’s stock, valued at approximately $116,823,082.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Richard Sands sold 638,407 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $180.12, for a total value of $114,989,868.84. Following the completion of the transaction, the insider now directly owns 249,763 shares of the company’s stock, valued at $44,987,311.56. The disclosure for this sale can be found here. Insiders sold a total of 1,052,364 shares of company stock valued at $189,856,440 in the last quarter. Corporate insiders own 15.77% of the company’s stock.
Shares of NYSE:STZ opened at $181.48 on Friday. The business has a 50 day moving average price of $186.98 and a 200 day moving average price of $174.92. Constellation Brands, Inc. has a twelve month low of $104.28 and a twelve month high of $208.55. The company has a market cap of $35.17 billion, a price-to-earnings ratio of 1,008.28, a PEG ratio of 2.07 and a beta of 0.97. The company has a quick ratio of 1.18, a current ratio of 1.94 and a debt-to-equity ratio of 1.02.
Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, October 7th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. Constellation Brands had a return on equity of 15.10% and a net margin of 0.62%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company earned $2.91 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. Analysts anticipate that Constellation Brands, Inc. will post 8.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a $0.75 dividend. The ex-dividend date is Thursday, November 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.65%. Constellation Brands’s dividend payout ratio is currently 10.20%.
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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