FDx Advisors Inc. Has $420,000 Stake in Constellation Brands, Inc. (STZ)
FDx Advisors Inc. cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 31.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,946 shares of the company’s stock after selling 908 shares during the quarter. FDx Advisors Inc.’s holdings in Constellation Brands were worth $420,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Sun Life Financial INC increased its holdings in Constellation Brands by 155.3% in the 2nd quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after buying an additional 278 shares in the last quarter. Atlantic Trust LLC bought a new stake in Constellation Brands in the 2nd quarter worth about $114,000. Truvestments Capital LLC bought a new stake in Constellation Brands in the 3rd quarter worth about $137,000. Benjamin F. Edwards & Company Inc. increased its holdings in Constellation Brands by 49.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after buying an additional 260 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Constellation Brands in the 2nd quarter worth about $180,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
In other news, VP Thomas Michael Kane sold 4,419 shares of Constellation Brands stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $223.83, for a total transaction of $989,104.77. Following the transaction, the vice president now directly owns 8,499 shares of the company’s stock, valued at approximately $1,902,331.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Sands sold 151,060 shares of Constellation Brands stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $223.67, for a total value of $33,787,590.20. Following the transaction, the chief executive officer now directly owns 737,607 shares in the company, valued at $164,980,557.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 578,723 shares of company stock worth $129,438,449. Insiders own 15.80% of the company’s stock.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 4th. The company reported $2.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.27. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. On average, sell-side analysts expect that Constellation Brands, Inc. will post 9.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.74 per share. The ex-dividend date was Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.55%. Constellation Brands’s payout ratio is currently 33.94%.
Several equities research analysts recently commented on STZ shares. Royal Bank of Canada lifted their price objective on Constellation Brands to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. SunTrust Banks downgraded Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $260.00 to $220.00 in a report on Monday, September 10th. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Cann reduced their price objective on Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Finally, Guggenheim started coverage on Constellation Brands in a report on Thursday, September 13th. They issued a “sell” rating and a $177.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and an average price target of $244.27.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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