Neuberger Berman Group LLC lessened its holdings in Constellation Brands Inc (NYSE:STZ) by 25.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,766 shares of the company’s stock after selling 10,009 shares during the period. Neuberger Berman Group LLC’s holdings in Constellation Brands were worth $5,767,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. United Capital Financial Advisers LLC lifted its stake in shares of Constellation Brands by 9.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after purchasing an additional 797 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of Constellation Brands by 8.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 13,623 shares of the company’s stock valued at $2,208,000 after purchasing an additional 1,044 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Constellation Brands by 0.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 603,499 shares of the company’s stock valued at $116,916,000 after purchasing an additional 2,404 shares during the last quarter. Harbor Spring Capital LLC acquired a new position in shares of Constellation Brands in the 1st quarter valued at $40,680,000. Finally, Miles Capital Inc. lifted its stake in shares of Constellation Brands by 85.9% in the 1st quarter. Miles Capital Inc. now owns 2,842 shares of the company’s stock valued at $461,000 after purchasing an additional 1,313 shares during the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of Constellation Brands Inc (STZ) opened at 203.70 on Tuesday. The stock has a market cap of $39.78 billion, a P/E ratio of 25.55 and a beta of 0.03. Constellation Brands Inc has a one year low of $144.00 and a one year high of $204.47. The firm’s 50-day moving average price is $196.96 and its 200 day moving average price is $181.20.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Equities research analysts expect that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.
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Several brokerages have recently commented on STZ. Argus upped their price target on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. Vetr downgraded Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a report on Tuesday, May 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $212.00 price objective (up previously from $198.00) on shares of Constellation Brands in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $200.53.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the transaction, the director now owns 22,820 shares in the company, valued at $4,471,122.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,118 shares of company stock worth $21,052,835. 15.59% of the stock is currently owned by insiders.
Constellation Brands Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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