Modus Advisors LLC lessened its position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 918 shares of the company’s stock after selling 89 shares during the quarter. Modus Advisors LLC’s holdings in Constellation Brands were worth $226,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in STZ. Vanguard Group Inc. raised its position in Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after acquiring an additional 313,344 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Constellation Brands by 100.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,890,702 shares of the company’s stock valued at $1,782,432,000 after purchasing an additional 3,961,836 shares during the last quarter. Morgan Stanley increased its stake in shares of Constellation Brands by 31.3% during the 4th quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after purchasing an additional 908,486 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Constellation Brands by 84,839.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after purchasing an additional 3,738,028 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Constellation Brands by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 2,863,322 shares of the company’s stock valued at $645,055,000 after buying an additional 50,672 shares in the last quarter. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
STZ has been the subject of several recent research reports. StockNews.com initiated coverage on Constellation Brands in a research report on Thursday, August 17th. They set a “hold” rating for the company. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $293.00 to $300.00 in a research note on Tuesday, June 27th. Barclays decreased their price target on shares of Constellation Brands from $277.00 to $275.00 in a research note on Wednesday, July 5th. Roth Capital upgraded shares of Constellation Brands from a “neutral” rating to a “buy” rating in a report on Tuesday, May 30th. Finally, TD Cowen raised shares of Constellation Brands from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $240.00 to $300.00 in a research note on Wednesday, September 6th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $270.05.
In related news, CEO William A. Newlands sold 49,425 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the completion of the sale, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at approximately $2,495,756.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the transaction, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at approximately $2,495,756.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James O. Bourdeau sold 30,723 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $269.00, for a total value of $8,264,487.00. Following the completion of the transaction, the executive vice president now owns 5,500 shares of the company’s stock, valued at approximately $1,479,500. 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. Company insiders own 16.19% of the company’s stock.
Constellation Brands Trading Up 0.4 %
Constellation Brands stock traded up $1.07 during midday trading on Thursday, reaching $261.25. The stock had a trading volume of 73,199 shares, compared to its average volume of 1,177,810. The stock’s 50-day simple moving average is $262.34 and its 200 day simple moving average is $241.44. Constellation Brands, Inc. has a twelve month low of $208.12 and a twelve month high of $273.65. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. The stock has a market capitalization of $47.89 billion, a PE ratio of -142.17, a price-to-earnings-growth ratio of 1.95 and a beta of 1.75.
Constellation Brands (NYSE:STZ – Get Free Report) last released its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.08. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.66 EPS. Analysts expect that Constellation Brands, Inc. will post 11.62 EPS for the current year.
Constellation Brands Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Wednesday, August 9th. Constellation Brands’s payout ratio is currently -194.54%.
Constellation Brands Profile
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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