Constellation Brands Inc. (STZ) Stake Held by Huntington National Bank
Huntington National Bank continued to hold its position in shares of Constellation Brands Inc. (NYSE:STZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,816 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Constellation Brands were worth $6,951,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of STZ. Invictus RG bought a new position in shares of Constellation Brands during the first quarter valued at about $110,000. Daiwa SB Investments Ltd. acquired a new stake in shares of Constellation Brands during the second quarter worth $134,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Constellation Brands during the first quarter worth $165,000. Tompkins Financial Corp raised its stake in shares of Constellation Brands by 44.2% in the second quarter. Tompkins Financial Corp now owns 1,110 shares of the company’s stock worth $184,000 after buying an additional 340 shares in the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of Constellation Brands during the second quarter worth $203,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.
Shares of Constellation Brands Inc. (NYSE:STZ) traded up 0.10% on Tuesday, reaching $162.85. The company’s stock had a trading volume of 794,180 shares. Constellation Brands Inc. has a 1-year low of $122.35 and a 1-year high of $168.68. The stock has a market capitalization of $32.65 billion, a PE ratio of 29.34 and a beta of 0.72. The stock has a 50-day moving average of $164.79 and a 200 day moving average of $158.48.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 30th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.52 by $0.02. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The company had revenue of $1.87 billion for the quarter. During the same quarter in the previous year, the business posted $1.26 EPS. Constellation Brands’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands Inc. will post $6.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.98%. Constellation Brands’s payout ratio is currently 28.78%.
A number of brokerages have weighed in on STZ. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price objective on the stock in a report on Friday, July 1st. Credit Suisse Group AG began coverage on Constellation Brands in a report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price objective on the stock. Credit Agricole SA reaffirmed an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Finally, Susquehanna reaffirmed a “hold” rating and issued a $155.00 price objective on shares of Constellation Brands in a report on Tuesday, June 28th. Six research 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’s stock. The company has a consensus rating of “Buy” and a consensus price target of $174.46.
In related news, VP Thomas J. Mullin sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $165.73, for a total transaction of $4,971,900.00. Following the transaction, the vice president now owns 101,702 shares in the company, valued at $16,855,072.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Eric Klein sold 14,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $166.27, for a total transaction of $2,377,661.00. Following the transaction, the chief financial officer now owns 36,152 shares in the company, valued at approximately $6,010,993.04. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by company insiders.
Constellation Brands Company Profile
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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