Buckley Wealth Management LLC reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 17.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the company’s stock after selling 211 shares during the quarter. Buckley Wealth Management LLC’s holdings in Constellation Brands were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its position in shares of Constellation Brands by 323.1% during the 2nd quarter. CVA Family Office LLC now owns 110 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. AXS Investments LLC acquired a new position in shares of Constellation Brands in the fourth quarter worth $26,000. Old North State Trust LLC lifted its position in shares of Constellation Brands by 500.0% in the first quarter. Old North State Trust LLC now owns 120 shares of the company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in shares of Constellation Brands by 135.6% during the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock valued at $32,000 after acquiring an additional 80 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in Constellation Brands in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 88.99% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on STZ. StockNews.com started coverage on shares of Constellation Brands in a research report on Thursday, August 17th. They issued a “hold” rating for the company. BMO Capital Markets raised their price target on Constellation Brands from $265.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, July 3rd. Barclays decreased their target price on shares of Constellation Brands from $277.00 to $275.00 in a research report on Wednesday, July 5th. Wells Fargo & Company increased their price target on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Finally, Wedbush boosted their price objective on shares of Constellation Brands from $255.00 to $270.00 in a research note on Wednesday, July 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $270.05.
Constellation Brands Price Performance
Constellation Brands stock opened at $260.65 on Tuesday. Constellation Brands, Inc. has a 52 week low of $208.12 and a 52 week high of $273.65. The company has a current ratio of 1.14, a quick ratio of 0.53 and a debt-to-equity ratio of 1.23. The stock has a 50 day moving average of $262.87 and a 200-day moving average of $242.25.
Constellation Brands (NYSE:STZ – Get Free Report) last announced its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.08. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. Constellation Brands’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.66 earnings per share. Equities analysts expect that Constellation Brands, Inc. will post 11.59 earnings per share for the current year.
Constellation Brands Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is presently -194.54%.
Insider Buying and Selling
In other news, Director Daniel J. Mccarthy sold 1,736 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $269.86, for a total transaction of $468,476.96. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at $872,187.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Ernesto M. Hernandez sold 5,086 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $269.00, for a total value of $1,368,134.00. Following the sale, the director now directly owns 3,649 shares in the company, valued at approximately $981,581. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,736 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $269.86, for a total value of $468,476.96. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $872,187.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,819 shares of company stock valued at $27,054,755. Insiders own 16.19% of the company’s stock.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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