First National Trust Co. Reduces Position in Constellation Brands Inc (STZ)
First National Trust Co. decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,901 shares of the company’s stock after selling 299 shares during the quarter. First National Trust Co.’s holdings in Constellation Brands were worth $1,377,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in shares of Constellation Brands by 3.2% in the second quarter. Bank of Montreal Can now owns 98,693 shares of the company’s stock valued at $19,120,000 after purchasing an additional 3,081 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Constellation Brands by 48.0% in the second quarter. State of Alaska Department of Revenue now owns 3,578 shares of the company’s stock valued at $693,000 after acquiring an additional 1,160 shares in the last quarter. Concorde Asset Management LLC bought a new position in shares of Constellation Brands in the second quarter valued at approximately $410,000. V Wealth Management LLC bought a new position in shares of Constellation Brands in the second quarter valued at approximately $165,000. Finally, Advisors Capital Management LLC bought a new position in shares of Constellation Brands in the second quarter valued at approximately $272,000. Hedge funds and other institutional investors own 74.38% of the company’s stock.
Several research firms have recently issued reports on STZ. Royal Bank Of Canada reiterated a “buy” rating and issued a $226.00 price objective on shares of Constellation Brands in a report on Sunday. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $237.00 price objective (up from $220.00) on shares of Constellation Brands in a report on Friday, October 6th. Citigroup Inc. reiterated a “neutral” rating and issued a $232.00 price objective (up from $211.00) on shares of Constellation Brands in a report on Monday, October 9th. Stifel Nicolaus increased their price objective on shares of Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 6th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $230.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $216.00.
In related news, EVP William F. Hackett sold 12,517 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,179 shares of company stock valued at $18,030,434. 15.59% of the stock is owned by insiders.
Shares of Constellation Brands Inc (STZ) traded up $2.09 during trading hours on Tuesday, hitting $220.76. 885,400 shares of the company traded hands, compared to its average volume of 1,486,367. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The stock has a market cap of $42,773.38, a P/E ratio of 26.50, a PEG ratio of 1.41 and a beta of 0.10. Constellation Brands Inc has a fifty-two week low of $144.00 and a fifty-two week high of $221.50.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 EPS. sell-side analysts predict that Constellation Brands Inc will post 8.43 EPS for the current year.
The company also recently declared 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. The ex-dividend date is Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 0.94%. Constellation Brands’s dividend payout ratio (DPR) is presently 23.85%.
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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