Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its position in Constellation Brands, Inc. (NYSE:STZGet Rating) by 8.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,376,746 shares of the company’s stock after buying an additional 176,991 shares during the quarter. Bank of America Corp DE’s holdings in Constellation Brands were worth $547,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of STZ. Equitable Holdings Inc. purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $236,000. Advisor Resource Council purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $472,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Constellation Brands by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 883,889 shares of the company’s stock valued at $221,830,000 after buying an additional 9,680 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Constellation Brands by 2.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,678 shares of the company’s stock valued at $672,000 after buying an additional 58 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Constellation Brands by 6.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,154 shares of the company’s stock valued at $290,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 73.86% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, insider Robert Sands sold 1,427,799 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $346,683,875.19. Following the completion of the sale, the insider now directly owns 550,214 shares of the company’s stock, valued at approximately $133,597,461.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Robert Sands sold 1,427,799 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $346,683,875.19. Following the completion of the transaction, the insider now directly owns 550,214 shares of the company’s stock, valued at approximately $133,597,461.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $242.81, for a total value of $44,514,842.92. Following the transaction, the insider now directly owns 100 shares of the company’s stock, valued at $24,281. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,619,248 shares of company stock valued at $393,239,506. 16.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Credit Suisse Group cut their price target on Constellation Brands from $295.00 to $292.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. The Goldman Sachs Group restated a “buy” rating and set a $275.00 price target on shares of Constellation Brands in a report on Wednesday, June 29th. Redburn Partners assumed coverage on Constellation Brands in a report on Wednesday, July 13th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price target on Constellation Brands from $263.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group cut their price target on Constellation Brands from $285.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.88.

Constellation Brands Stock Down 0.3 %

Shares of NYSE STZ opened at $239.90 on Friday. The stock has a market cap of $44.33 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 2.04 and a beta of 1.01. The company has a quick ratio of 0.70, a current ratio of 1.40 and a debt-to-equity ratio of 0.89. Constellation Brands, Inc. has a 52-week low of $207.59 and a 52-week high of $261.52. The business has a 50-day moving average price of $245.81 and a 200 day moving average price of $240.64.

Constellation Brands (NYSE:STZGet Rating) last posted its quarterly earnings data on Thursday, June 30th. The company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $2.33 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 10.93 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, August 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.33%. Constellation Brands’s payout ratio is 48.34%.

Constellation Brands Company Profile

(Get Rating)

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. 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.

See Also

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZGet Rating).

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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