Constellation Brands Inc (STZ) Holdings Increased by Profund Advisors LLC
Profund Advisors LLC boosted its position in Constellation Brands Inc (NYSE:STZ) by 28.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,425 shares of the company’s stock after acquiring an additional 1,208 shares during the period. Profund Advisors LLC’s holdings in Constellation Brands were worth $1,051,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in STZ. BlackRock Inc. grew its stake in Constellation Brands by 3,310.4% in the 1st quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock worth $1,880,863,000 after acquiring an additional 11,264,949 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in Constellation Brands in the 1st quarter worth approximately $132,686,000. Marshall Wace North America L.P. purchased a new stake in Constellation Brands in the 1st quarter worth approximately $132,686,000. Alliancebernstein L.P. grew its stake in Constellation Brands by 87.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after acquiring an additional 786,726 shares during the period. Finally, OZ Management LP purchased a new stake in Constellation Brands in the 1st quarter worth approximately $121,982,000. 74.96% of the stock is owned by hedge funds and other institutional investors.
Constellation Brands Inc (NYSE:STZ) opened at 201.02 on Friday. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $205.12. The company’s 50 day moving average is $198.80 and its 200 day moving average is $183.32. The firm has a market cap of $39.26 billion, a price-to-earnings ratio of 25.21 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the business posted $1.54 EPS. Constellation Brands’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands Inc will post $8.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, August 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.03%. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
STZ has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Macquarie began coverage on shares of Constellation Brands in a research note on Thursday, September 14th. They issued an “outperform” rating and a $227.00 target price for the company. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a research note on Wednesday, August 2nd. Finally, UBS AG boosted their price objective on shares of Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $202.00.
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In other news, VP Thomas J. Mullin sold 23,827 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares in the company, valued at approximately $15,205,387.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the transaction, the vice president now owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,118 shares of company stock worth $21,052,835. 15.59% of the stock is currently owned by company insiders.
Constellation Brands 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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