Coastline Trust Co Reduces Stake in Constellation Brands, Inc. (STZ)
Coastline Trust Co lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 5.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,080 shares of the company’s stock after selling 655 shares during the period. Coastline Trust Co’s holdings in Constellation Brands were worth $2,210,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. Hanson McClain Inc. raised its position in shares of Constellation Brands by 0.4% during the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after purchasing an additional 3 shares during the period. Welch Group LLC raised its position in shares of Constellation Brands by 2.9% during the second quarter. Welch Group LLC now owns 885 shares of the company’s stock worth $171,000 after purchasing an additional 25 shares during the period. Ray Gerald L & Associates Ltd. raised its position in shares of Constellation Brands by 0.7% during the second quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock worth $897,000 after purchasing an additional 30 shares during the period. LMR Partners LLP raised its position in shares of Constellation Brands by 1.9% during the second quarter. LMR Partners LLP now owns 2,559 shares of the company’s stock worth $496,000 after purchasing an additional 47 shares during the period. Finally, Veritable L.P. raised its position in shares of Constellation Brands by 1.8% during the second quarter. Veritable L.P. now owns 3,447 shares of the company’s stock worth $668,000 after purchasing an additional 61 shares during the period. 75.04% of the stock is currently owned by institutional investors.
Shares of Constellation Brands, Inc. (NYSE:STZ) traded down $1.43 during mid-day trading on Thursday, hitting $218.58. The stock had a trading volume of 1,104,700 shares, compared to its average volume of 1,454,673. Constellation Brands, Inc. has a twelve month low of $144.00 and a twelve month high of $227.20. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $43,035.49, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.42 and a beta of 0.08.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. Constellation Brands’s revenue for the quarter was up 3.1% compared to the same quarter last year. analysts anticipate that Constellation Brands, Inc. will post 8.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. Constellation Brands’s dividend payout ratio is 10.67%.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William A. Newlands sold 2,935 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The disclosure for this sale can be found here. Insiders have sold 73,662 shares of company stock worth $15,564,585 in the last quarter. 15.59% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on STZ. SunTrust Banks reaffirmed a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research report on Friday, October 6th. Evercore ISI reaffirmed an “outperform” rating and set a $235.00 target price (up from $230.00) on shares of Constellation Brands in a research report on Friday, October 6th. Pivotal Research boosted their target price on Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Morgan Stanley boosted their target price on Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Finally, Citigroup reaffirmed a “neutral” rating and set a $232.00 target price (up from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and an average target price of $217.40.
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About Constellation Brands
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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