Constellation Brands, Inc. (STZ) Stake Lessened by Zions Bancorporation N.A.
Zions Bancorporation N.A. lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 39.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 884 shares of the company’s stock after selling 588 shares during the period. Zions Bancorporation N.A.’s holdings in Constellation Brands were worth $155,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Constellation Brands by 14.7% in the 1st quarter. BlackRock Inc. now owns 13,545,436 shares of the company’s stock worth $2,374,922,000 after purchasing an additional 1,734,902 shares during the period. Vanguard Group Inc lifted its position in shares of Constellation Brands by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock worth $2,590,276,000 after purchasing an additional 30,782 shares during the period. Janus Henderson Group PLC lifted its position in shares of Constellation Brands by 53.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock worth $371,831,000 after purchasing an additional 737,613 shares during the period. Geode Capital Management LLC lifted its position in shares of Constellation Brands by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,937,070 shares of the company’s stock worth $310,909,000 after purchasing an additional 120,139 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Constellation Brands by 2.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,254 shares of the company’s stock worth $269,253,000 after purchasing an additional 33,340 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.
In other news, Chairman Robert Sands sold 23,611 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $206.48, for a total value of $4,875,199.28. Following the completion of the sale, the chairman now owns 570,857 shares in the company, valued at approximately $117,870,553.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Eric Klein sold 25,980 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the completion of the sale, the executive vice president now owns 69,852 shares of the company’s stock, valued at approximately $13,876,798.32. The disclosure for this sale can be found here. Insiders have sold a total of 80,921 shares of company stock valued at $16,404,441 in the last 90 days. 15.80% of the stock is currently owned by company insiders.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 4th. The company reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.12. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. Constellation Brands’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. On average, equities analysts predict that Constellation Brands, Inc. will post 8.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, May 9th. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s payout ratio is 32.33%.
STZ has been the subject of several research analyst reports. Credit Suisse Group set a $230.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Morgan Stanley set a $233.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Thursday, February 14th. Macquarie set a $183.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Constellation Brands in a research note on Thursday, February 21st. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $222.58.
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Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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