14,955 Shares in Constellation Brands, Inc. (STZ) Acquired by Parkside Investments LLC
Parkside Investments LLC acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,955 shares of the company’s stock, valued at approximately $2,622,000.
Several other large investors have also added to or reduced their stakes in STZ. Versant Capital Management Inc lifted its holdings in shares of Constellation Brands by 210.9% during the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock valued at $25,000 after purchasing an additional 97 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Constellation Brands in the 4th quarter valued at approximately $32,000. We Are One Seven LLC bought a new stake in Constellation Brands in the 4th quarter valued at approximately $32,000. Bay Harbor Wealth Management LLC bought a new stake in Constellation Brands in the 1st quarter valued at approximately $33,000. Finally, CNB Bank bought a new stake in Constellation Brands in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.79% of the company’s stock.
Several equities research analysts have commented on the company. Morgan Stanley upgraded Constellation Brands to a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research cut Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Barclays set a $226.00 target price on Constellation Brands and gave the company a “buy” rating in a research note on Friday, April 5th. ValuEngine upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group boosted their target price on Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a research note on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $222.58.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 4th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.12. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Constellation Brands, Inc. will post 8.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date was Thursday, May 9th. Constellation Brands’s dividend payout ratio is currently 32.33%.
In other Constellation Brands news, Chairman Robert Sands sold 23,611 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total value of $4,875,199.28. Following the transaction, the chairman now directly owns 570,857 shares of the company’s stock, valued at approximately $117,870,553.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Richard Sands sold 23,984 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $206.47, for a total value of $4,951,976.48. Following the completion of the transaction, the insider now directly owns 173,860 shares in the company, valued at $35,896,874.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,921 shares of company stock worth $16,404,441. Insiders own 15.80% of the company’s stock.
Constellation Brands Profile
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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