Advisory Services Network LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,090 shares of the company’s stock after purchasing an additional 42 shares during the quarter. Advisory Services Network LLC’s holdings in Constellation Brands were worth $2,324,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new position in Constellation Brands in the fourth quarter valued at $25,000. Wagner Wealth Management LLC acquired a new stake in Constellation Brands during the fourth quarter worth about $26,000. MCF Advisors LLC acquired a new stake in Constellation Brands during the first quarter worth about $25,000. Ellevest Inc. acquired a new stake in Constellation Brands during the first quarter worth about $42,000. Finally, Bedel Financial Consulting Inc. increased its stake in Constellation Brands by 25.3% during the first quarter. Bedel Financial Consulting Inc. now owns 198 shares of the company’s stock worth $46,000 after acquiring an additional 40 shares during the last quarter. 73.86% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Constellation Brands
In other news, CFO Garth Hankinson sold 2,270 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $255.92, for a total transaction of $580,938.40. Following the completion of the transaction, the chief financial officer now owns 7,176 shares in the company, valued at $1,836,481.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Wildstar Partners Llc sold 183,332 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $44,514,842.92. Following the completion of the sale, the insider now owns 100 shares of the company’s stock, valued at $24,281. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 2,270 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $255.92, for a total transaction of $580,938.40. Following the completion of the sale, the chief financial officer now directly owns 7,176 shares of the company’s stock, valued at approximately $1,836,481.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,619,248 shares of company stock worth $393,239,506. Insiders own 16.19% of the company’s stock.
Constellation Brands Stock Down 0.3 %
Constellation Brands (NYSE:STZ – Get Rating) last released its earnings results on Thursday, June 30th. The company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.16 billion. Constellation Brands had a net margin of 12.72% and a return on equity of 17.19%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Research analysts predict that Constellation Brands, Inc. will post 10.93 EPS for the current year.
Constellation Brands Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.33%. Constellation Brands’s dividend payout ratio is currently 48.34%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on STZ shares. BMO Capital Markets started coverage on Constellation Brands in a research note on Tuesday, August 2nd. They set an “outperform” rating and a $290.00 price target for the company. Barclays upped their target price on Constellation Brands from $272.00 to $281.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $275.00 target price on shares of Constellation Brands in a research report on Wednesday, June 29th. JPMorgan Chase & Co. upped their target price on Constellation Brands from $263.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Constellation Brands from $248.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, July 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.88.
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. 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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