D L Carlson Investment Group Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,068 shares of the company’s stock after selling 185 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Constellation Brands were worth $1,465,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Berman Capital Advisors LLC boosted its stake in shares of Constellation Brands by 31.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 219 shares of the company’s stock valued at $43,000 after purchasing an additional 53 shares during the last quarter. Sky Investment Group LLC boosted its stake in Constellation Brands by 0.6% during the second quarter. Sky Investment Group LLC now owns 9,618 shares of the company’s stock worth $1,894,000 after acquiring an additional 55 shares in the last quarter. Grove Bank & Trust boosted its stake in Constellation Brands by 2.3% during the second quarter. Grove Bank & Trust now owns 2,413 shares of the company’s stock worth $475,000 after acquiring an additional 55 shares in the last quarter. Cornerstone Wealth Group LLC boosted its stake in Constellation Brands by 2.6% during the third quarter. Cornerstone Wealth Group LLC now owns 2,235 shares of the company’s stock worth $463,000 after acquiring an additional 57 shares in the last quarter. Finally, River Wealth Advisors LLC boosted its stake in Constellation Brands by 0.5% during the third quarter. River Wealth Advisors LLC now owns 11,541 shares of the company’s stock worth $2,392,000 after acquiring an additional 59 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.
In other news, major shareholder Richard Sands sold 95,521 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.86% of the company’s stock.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $2.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.12. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.87 earnings per share. As a group, research analysts expect that Constellation Brands, Inc. will post 8.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.60%. Constellation Brands’s dividend payout ratio is currently 10.02%.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 target price on the stock in a research note on Monday, September 23rd. Argus increased their target price on shares of Constellation Brands to $230.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Evercore ISI set a $220.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley cut their target price on shares of Constellation Brands from $227.00 to $214.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. Finally, HSBC set a $235.00 target price on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $223.76.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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