Constellation Brands, Inc. (STZ) Stake Lowered by Gabelli Funds LLC
Gabelli Funds LLC lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,000 shares of the company’s stock after selling 3,000 shares during the period. Gabelli Funds LLC’s holdings in Constellation Brands were worth $16,369,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of STZ. Egerton Capital UK LLP increased its position in shares of Constellation Brands by 21.6% in the third quarter. Egerton Capital UK LLP now owns 2,247,175 shares of the company’s stock valued at $374,132,000 after buying an additional 399,874 shares during the period. Polaris Greystone Financial Group LLC bought a new position in shares of Constellation Brands during the third quarter valued at about $14,098,000. Truepoint Inc. increased its position in shares of Constellation Brands by 0.4% in the third quarter. Truepoint Inc. now owns 1,350 shares of the company’s stock valued at $225,000 after buying an additional 6 shares during the period. Decatur Capital Management Inc. increased its position in shares of Constellation Brands by 2.8% in the third quarter. Decatur Capital Management Inc. now owns 86,490 shares of the company’s stock valued at $14,400,000 after buying an additional 2,375 shares during the period. Finally, Hanseatic Management Services Inc. increased its position in shares of Constellation Brands by 5.8% in the third quarter. Hanseatic Management Services Inc. now owns 28,010 shares of the company’s stock valued at $4,663,000 after buying an additional 1,535 shares during the period. Institutional investors and hedge funds own 75.54% of the company’s stock.
Shares of Constellation Brands, Inc. (NYSE:STZ) traded up 1.57% during mid-day trading on Friday, hitting $183.68. 703,914 shares of the company were exchanged. The firm has a 50 day moving average of $172.64 and a 200 day moving average of $159.63. Constellation Brands, Inc. has a 12-month low of $144.00 and a 12-month high of $184.24. The company has a market capitalization of $35.78 billion, a price-to-earnings ratio of 24.43 and a beta of 0.52.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 6th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.12. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post $7.97 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be given a $0.52 dividend. The ex-dividend date is Monday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.40. Constellation Brands’s dividend payout ratio (DPR) is presently 24.73%.
Several research analysts recently issued reports on the stock. Vetr downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target on the stock. in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $205.00 target price (up from $183.00) on shares of Constellation Brands in a research report on Friday, April 7th. Credit Suisse Group AG set a $182.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research report on Saturday, April 8th. Stifel Nicolaus upped their target price on shares of Constellation Brands from $189.00 to $201.00 and gave the company a “buy” rating in a research report on Monday, April 10th. Finally, Wells Fargo & Co restated an “outperform” rating on shares of Constellation Brands in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and a consensus target price of $183.62.
In related news, VP Thomas J. Mullin sold 39,854 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $169.55, for a total value of $6,757,245.70. Following the transaction, the vice president now owns 48,900 shares in the company, valued at $8,290,995. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James A. Locke III sold 6,340 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $173.05, for a total value of $1,097,137.00. Following the completion of the transaction, the director now owns 44,415 shares in the company, valued at approximately $7,686,015.75. The disclosure for this sale can be found here. Insiders sold 61,244 shares of company stock worth $10,445,048 in the last 90 days. 10.63% of the stock is owned by company insiders.
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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