Constellation Brands Inc (STZ) Stake Boosted by Sun Life Financial INC
Sun Life Financial INC lifted its position in shares of Constellation Brands Inc (NYSE:STZ) by 8,266.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,255 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. Sun Life Financial INC’s holdings in Constellation Brands were worth $243,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after buying an additional 193 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Constellation Brands during the 1st quarter worth $117,000. North Star Investment Management Corp. raised its stake in Constellation Brands by 11.6% during the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after buying an additional 78 shares during the period. Hanson McClain Inc. raised its stake in Constellation Brands by 0.4% during the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after buying an additional 3 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Constellation Brands by 609.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after buying an additional 670 shares during the period. 74.96% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on the company. UBS AG boosted their target price on Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research note on Friday, June 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $205.00) on shares of Constellation Brands in a research report on Friday, June 30th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $220.00 price target (up previously from $188.00) on shares of Constellation Brands in a research report on Friday, June 30th. Susquehanna Bancshares Inc lifted their price objective on Constellation Brands from $169.00 to $193.00 and gave the company a “neutral” rating in a report on Monday. Finally, Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $203.94.
In other news, Director Barry A. Fromberg sold 2,000 shares of Constellation Brands stock in a transaction dated 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 in the company, valued at $4,471,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,118 shares of company stock valued at $21,052,835 in the last 90 days. 15.59% of the stock is currently owned by company insiders.
Constellation Brands Inc (STZ) traded up 1.361% during trading on Monday, hitting $202.165. 240,301 shares of the stock were exchanged. The firm has a market cap of $39.48 billion, a PE ratio of 25.356 and a beta of 0.04. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12. The firm’s 50-day moving average is $198.80 and its 200 day moving average is $183.32.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. Constellation Brands’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.54 EPS. Analysts expect that Constellation Brands Inc will post $8.18 earnings per share for the current fiscal year.
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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