Constellation Brands Inc (STZ) Position Lowered by Samlyn Capital LLC
Samlyn Capital LLC cut its position in shares of Constellation Brands Inc (NYSE:STZ) by 38.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 939,148 shares of the company’s stock after selling 581,596 shares during the period. Constellation Brands makes up 4.4% of Samlyn Capital LLC’s portfolio, making the stock its 3rd largest holding. Samlyn Capital LLC owned about 0.48% of Constellation Brands worth $181,941,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its position in Constellation Brands by 8.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 467,139 shares of the company’s stock worth $75,709,000 after purchasing an additional 36,798 shares during the period. Nordea Investment Management AB lifted its stake in Constellation Brands by 15.2% in the first quarter. Nordea Investment Management AB now owns 8,626 shares of the company’s stock worth $1,398,000 after purchasing an additional 1,137 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Constellation Brands by 917.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,854 shares of the company’s stock worth $2,245,000 after purchasing an additional 12,492 shares during the last quarter. Glenview Trust Co lifted its stake in Constellation Brands by 9.6% in the first quarter. Glenview Trust Co now owns 37,024 shares of the company’s stock worth $6,000,000 after purchasing an additional 3,246 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in Constellation Brands in the first quarter worth about $306,000. 74.96% of the stock is owned by hedge funds and other institutional investors.
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In other Constellation Brands news, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the transaction, the vice president now owns 86,005 shares of the company’s stock, valued at approximately $16,727,972.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry A. Fromberg sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the transaction, the director now directly owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders sold 108,118 shares of company stock valued at $21,052,835 in the last 90 days. Company insiders own 15.59% of the company’s stock.
Several research analysts have issued reports on STZ shares. Argus boosted their target price on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target (up from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price target on the stock in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $212.00 price target (up from $198.00) on shares of Constellation Brands in a research note on Friday, June 30th. Finally, BidaskClub lowered Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $203.94.
Shares of Constellation Brands Inc (NYSE:STZ) traded up 0.15% during midday trading on Tuesday, hitting $199.65. 590,333 shares of the stock traded hands. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $205.12. The company has a market cap of $38.99 billion, a price-to-earnings ratio of 25.04 and a beta of 0.04. The stock has a 50-day moving average of $200.31 and a 200-day moving average of $186.06.
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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