Constellation Brands Inc (STZ) Stake Boosted by High Falls Advisors Inc
High Falls Advisors Inc grew its position in shares of Constellation Brands Inc (NYSE:STZ) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,963 shares of the company’s stock after acquiring an additional 6 shares during the period. High Falls Advisors Inc’s holdings in Constellation Brands were worth $574,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. DSAM Partners London Ltd bought a new position in shares of Constellation Brands during the second quarter valued at about $21,659,000. Brighton Jones LLC bought a new position in shares of Constellation Brands during the second quarter valued at about $245,000. Cipher Capital LP bought a new position in shares of Constellation Brands during the second quarter valued at about $7,833,000. Oak Ridge Investments LLC raised its stake in shares of Constellation Brands by 24.4% during the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock valued at $6,956,000 after acquiring an additional 7,052 shares during the last quarter. Finally, United Capital Financial Advisers LLC raised its stake in shares of Constellation Brands by 9.6% during the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after acquiring an additional 797 shares during the last quarter. 74.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc (NYSE:STZ) traded up 0.28% during midday trading on Friday, reaching $207.98. 421,434 shares of the company’s stock were exchanged. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $213.40. The company has a market cap of $40.68 billion, a price-to-earnings ratio of 23.89 and a beta of 0.04. The stock’s 50 day moving average price is $202.31 and its 200 day moving average price is $188.19.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The firm 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 firm earned $1.77 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands Inc will post $8.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s payout ratio is currently 26.03%.
In other news, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,786 shares of company stock worth $15,251,456. Insiders own 15.59% of the company’s stock.
Several equities analysts have recently commented on STZ shares. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $198.00 price objective (down from $200.00) on shares of Constellation Brands in a research note on Friday, June 23rd. Royal Bank Of Canada reissued a “buy” rating on shares of Constellation Brands in a research note on Friday, June 16th. Stifel Nicolaus increased their price target on shares of Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Argus increased their price target on shares of Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 5th. Finally, BidaskClub downgraded shares of 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, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and an average target price of $216.00.
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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