Constellation Brands Inc. (STZ) Shares Bought by Pitcairn Co.
Pitcairn Co. raised its stake in shares of Constellation Brands Inc. (NYSE:STZ) by 156.6% during the second quarter, Holdings Channel reports. The fund owned 4,139 shares of the company’s stock after buying an additional 2,526 shares during the period. Pitcairn Co.’s holdings in Constellation Brands were worth $685,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Badgley Phelps & Bell Inc. purchased a new stake in Constellation Brands during the first quarter worth $5,382,000. Tiemann Investment Advisors LLC increased its stake in Constellation Brands by 1.6% in the first quarter. Tiemann Investment Advisors LLC now owns 3,256 shares of the company’s stock worth $492,000 after buying an additional 51 shares during the last quarter. Virginia Retirement System purchased a new stake in Constellation Brands during the first quarter worth $27,651,000. Nisa Investment Advisors L.L.C. increased its stake in Constellation Brands by 2.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 84,884 shares of the company’s stock worth $12,825,000 after buying an additional 1,675 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in Constellation Brands during the first quarter worth $574,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.
Shares of Constellation Brands Inc. (NYSE:STZ) traded up 1.81% on Wednesday, reaching $165.79. The company had a trading volume of 1,050,041 shares. The stock has a market cap of $33.24 billion, a PE ratio of 29.87 and a beta of 0.72. Constellation Brands Inc. has a 12 month low of $122.35 and a 12 month high of $168.68. The stock has a 50-day moving average price of $164.88 and a 200-day moving average price of $158.53.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 30th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.02. The business earned $1.87 billion during the quarter. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. Constellation Brands’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Analysts predict that Constellation Brands Inc. will post $6.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.97%. Constellation Brands’s dividend payout ratio (DPR) is currently 28.78%.
A number of research firms recently commented on STZ. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. Susquehanna reiterated a “hold” rating on shares of Constellation Brands in a report on Monday, August 8th. Wells Fargo & Co. reiterated an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a report on Wednesday, July 6th. SunTrust Banks Inc. reiterated a “buy” rating and issued a $180.00 price objective on shares of Constellation Brands in a report on Friday, June 3rd. Finally, Morgan Stanley reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands has an average rating of “Buy” and a consensus price target of $174.46.
In other Constellation Brands news, VP Thomas J. Mullin sold 9,516 shares of Constellation Brands stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $166.42, for a total transaction of $1,583,652.72. Following the completion of the transaction, the vice president now owns 88,602 shares in the company, valued at approximately $14,745,144.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Michael Kane sold 7,000 shares of Constellation Brands stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $163.26, for a total value of $1,142,820.00. Following the transaction, the vice president now owns 8,764 shares of the company’s stock, valued at approximately $1,430,810.64. The disclosure for this sale can be found here. Company insiders own 10.63% of the company’s stock.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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