Candriam Luxembourg S.C.A. Lowers Stake in Constellation Brands Inc (NYSE:STZ)
Candriam Luxembourg S.C.A. lowered its stake in Constellation Brands Inc (NYSE:STZ) by 5.3% during the second quarter, Holdings Channel reports. The firm owned 11,104 shares of the company’s stock after selling 622 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Constellation Brands were worth $2,151,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of STZ. Hanson McClain Inc. increased its position in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Concert Wealth Management Inc. increased its position in shares of Constellation Brands by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,379 shares of the company’s stock valued at $212,000 after buying an additional 10 shares during the period. Quadrant Capital Group LLC increased its position in shares of Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the period. Financial Architects Inc increased its position in shares of Constellation Brands by 1.4% in the second quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock valued at $344,000 after buying an additional 25 shares during the period. Finally, Atria Investments LLC increased its position in shares of Constellation Brands by 1.6% in the first quarter. Atria Investments LLC now owns 1,702 shares of the company’s stock valued at $276,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 76.14% of the company’s stock.
Shares of Constellation Brands Inc (STZ) opened at 194.69 on Friday. The stock has a 50 day moving average price of $193.29 and a 200-day moving average price of $174.15. The company has a market capitalization of $38.02 billion, a PE ratio of 24.42 and a beta of 0.06. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $199.89.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 earnings per share. Equities research analysts expect that Constellation Brands Inc will post $8.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, August 7th. Constellation Brands’s dividend payout ratio is currently 26.03%.
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Several research analysts recently issued reports on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and set a $220.00 price target (up previously from $188.00) on shares of Constellation Brands in a research report on Friday, June 30th. Vetr cut Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective for the company. in a report on Monday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. UBS AG boosted their price objective on Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a report on Friday, June 30th. Finally, Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus 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, VP Thomas Michael Kane sold 4,940 shares of Constellation Brands stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the completion of the transaction, the vice president now directly owns 8,914 shares in the company, valued at $1,722,897.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,601 shares of company stock worth $18,586,986. 15.59% of the stock is owned by insiders.
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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