Constellation Brands Inc (STZ) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC lowered its position in Constellation Brands Inc (NYSE:STZ) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 151,402 shares of the company’s stock after selling 5,051 shares during the quarter. ClariVest Asset Management LLC owned about 0.08% of Constellation Brands worth $30,198,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Constellation Brands by 0.9% in the second quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock worth $2,268,295,000 after purchasing an additional 103,312 shares during the period. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock worth $2,184,613,000 after purchasing an additional 350,346 shares during the period. Egerton Capital UK LLP increased its holdings in shares of Constellation Brands by 13.0% in the third quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after purchasing an additional 353,490 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Constellation Brands by 87.9% in the second quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after purchasing an additional 786,726 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Constellation Brands by 488.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after purchasing an additional 990,152 shares during the period. 74.38% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Thomas J. Mullin sold 18,227 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now directly owns 72,924 shares in the company, valued at $15,825,237.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas J. Mullin sold 50,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $209.45, for a total transaction of $10,472,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,179 shares of company stock valued at $18,030,434. 15.59% of the stock is currently owned by company insiders.
Constellation Brands Inc (STZ) traded down $0.93 during trading on Thursday, hitting $217.16. 1,254,600 shares of the stock were exchanged, compared to its average volume of 1,483,409. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $42,659.93, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.41 and a beta of 0.10. Constellation Brands Inc has a one year low of $144.00 and a one year high of $227.20.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. Constellation Brands’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. sell-side analysts anticipate that Constellation Brands Inc will post 8.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio is currently 23.85%.
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A number of research analysts recently commented on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a research note on Sunday. Citigroup Inc. reissued a “neutral” rating and issued a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a research note on Monday, October 9th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 target price (up previously from $220.00) on shares of Constellation Brands in a research note on Friday, October 6th. Cowen and Company reissued an “outperform” rating and issued a $243.00 target price (up previously from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. Finally, Evercore ISI reissued an “outperform” rating and issued a $235.00 target price (up previously from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $216.00.
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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