Dupont Capital Management Corp Has $18.06 Million Holdings in Constellation Brands Inc (STZ)
Dupont Capital Management Corp cut its position in shares of Constellation Brands Inc (NYSE:STZ) by 9.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,567 shares of the company’s stock after selling 9,272 shares during the quarter. Dupont Capital Management Corp’s holdings in Constellation Brands were worth $18,064,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in Constellation Brands by 50.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after buying an additional 193 shares in the last quarter. North Star Investment Management Corp. lifted its stake in Constellation Brands by 11.6% during the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after buying an additional 78 shares in the last quarter. Hanson McClain Inc. lifted its stake in Constellation Brands by 0.4% during the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after buying an additional 3 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in Constellation Brands by 609.1% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after buying an additional 670 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in Constellation Brands during the second quarter valued at about $157,000. 74.98% of the stock is owned by institutional investors.
A number of research firms have commented on STZ. Wells Fargo & Company reaffirmed an “outperform” rating and set a $216.00 price objective (up from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 price objective on shares of Constellation Brands in a research note on Wednesday, August 2nd. Pivotal Research upped their target price on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $193.00 target price (up previously from $169.00) on shares of Constellation Brands in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $216.00.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm earned $1.77 EPS. Constellation Brands’s revenue for the quarter was up 3.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors 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 yield of 0.96%. The ex-dividend date is Monday, November 6th. Constellation Brands’s dividend payout ratio is presently 23.85%.
In other Constellation Brands news, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total transaction of $2,465,849.00. 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 business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 67,952 shares of company stock worth $14,074,993. 15.59% of the stock is owned by insiders.
Constellation Brands Company 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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