Canada Pension Plan Investment Board Acquires 3,531 Shares of Constellation Brands Inc (NYSE:STZ)
Canada Pension Plan Investment Board raised its position in Constellation Brands Inc (NYSE:STZ) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 180,746 shares of the company’s stock after buying an additional 3,531 shares during the period. Canada Pension Plan Investment Board’s holdings in Constellation Brands were worth $35,016,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock worth $115,000 after buying an additional 24 shares in the last quarter. Tompkins Financial Corp increased its stake in Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock worth $116,000 after buying an additional 175 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Constellation Brands during the first quarter worth $117,000. Hanson McClain Inc. increased its stake in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock worth $125,000 after buying an additional 2 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new stake in Constellation Brands during the first quarter worth $130,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.
Shares of Constellation Brands Inc (STZ) opened at 195.65 on Friday. The firm’s 50-day moving average price is $193.61 and its 200 day moving average price is $174.46. The company has a market capitalization of $38.21 billion, a PE ratio of 24.54 and a beta of 0.06. Constellation Brands Inc has a one year low of $144.00 and a one year high of $199.89.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm posted $1.54 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts anticipate that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, August 7th. Constellation Brands’s payout ratio is 26.03%.
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A number of equities research analysts have weighed in on STZ shares. BidaskClub downgraded shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Royal Bank Of Canada reiterated a “buy” rating on shares of Constellation Brands in a research note on Friday, June 16th. Stifel Nicolaus boosted their target price on shares of Constellation Brands from $201.00 to $216.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $198.00 target price (down previously from $200.00) on shares of Constellation Brands in a research note on Friday, June 23rd. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Constellation Brands presently has an average rating of “Buy” and a consensus price target of $200.53.
In related news, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the transaction, the vice president now directly owns 86,005 shares of the company’s stock, valued at $16,727,972.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Barry A. Fromberg sold 2,000 shares of Constellation Brands stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the completion of the transaction, the director now directly owns 22,820 shares in the company, valued at $4,471,122.60. The disclosure for this sale can be found here. Insiders have sold 95,601 shares of company stock worth $18,586,986 over the last three months. Insiders own 15.59% of the company’s stock.
Constellation Brands Company 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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