Personal CFO Solutions LLC raised its position in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,278 shares of the company’s stock after acquiring an additional 94 shares during the quarter. Personal CFO Solutions LLC’s holdings in Constellation Brands were worth $561,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of STZ. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Constellation Brands by 103,844.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,206,335 shares of the company’s stock worth $2,265,955,000 after purchasing an additional 9,197,478 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Constellation Brands by 100.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,890,702 shares of the company’s stock worth $1,782,432,000 after buying an additional 3,961,836 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Constellation Brands by 84,839.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after buying an additional 3,738,028 shares during the last quarter. Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $373,796,000. Finally, Barclays PLC increased its stake in shares of Constellation Brands by 102.0% during the second quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock valued at $723,027,000 after buying an additional 1,483,668 shares during the period. Hedge funds and other institutional investors own 88.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on STZ. TD Cowen upgraded shares of Constellation Brands from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $240.00 to $300.00 in a report on Wednesday, September 6th. HSBC lifted their target price on shares of Constellation Brands from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, October 6th. Barclays lowered their price objective on shares of Constellation Brands from $294.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, October 6th. Jefferies Financial Group assumed coverage on Constellation Brands in a report on Monday, November 13th. They set a “buy” rating and a $292.00 target price on the stock. Finally, Wedbush raised their target price on Constellation Brands from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.38.
In related news, major shareholder Family Foundation Sands sold 102,152 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $241.84, for a total value of $24,704,439.68. Following the sale, the insider now owns 409,077 shares in the company, valued at $98,931,181.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.19% of the stock is owned by corporate insiders.
Constellation Brands Trading Down 0.4 %
NYSE:STZ opened at $235.63 on Friday. Constellation Brands, Inc. has a 52 week low of $208.12 and a 52 week high of $273.65. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.89 and a beta of 1.05. The company’s 50 day moving average price is $243.40 and its 200-day moving average price is $248.21. The company has a quick ratio of 0.57, a current ratio of 1.20 and a debt-to-equity ratio of 1.10.
Constellation Brands (NYSE:STZ – Get Free Report) last issued its earnings results on Thursday, October 5th. The company reported $3.70 EPS for the quarter, beating the consensus estimate of $3.37 by $0.33. Constellation Brands had a return on equity of 23.35% and a net margin of 14.41%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the business posted $3.17 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands, Inc. will post 11.87 earnings per share for the current fiscal year.
Constellation Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Thursday, November 2nd. Constellation Brands’s dividend payout ratio (DPR) is 43.36%.
Constellation Brands Company 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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