Investors Buy Shares of Constellation Brands Inc (STZ) on Weakness
Investors bought shares of Constellation Brands Inc (NYSE:STZ) on weakness during trading hours on Tuesday. $98.03 million flowed into the stock on the tick-up and $30.48 million flowed out of the stock on the tick-down, for a money net flow of $67.55 million into the stock. Of all equities tracked, Constellation Brands had the 9th highest net in-flow for the day. Constellation Brands traded down ($0.32) for the day and closed at $215.48
Several research firms have issued reports on STZ. Cowen and Company reiterated a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 target price on shares of Constellation Brands in a research note on Wednesday, August 2nd. BidaskClub cut shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Pivotal Research increased their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research note on Friday, October 6th. One equities 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 assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $216.00.
The stock has a market capitalization of $42,210.00, a price-to-earnings ratio of 26.17, a PEG ratio of 1.39 and a beta of 0.10. The company has a quick ratio of 0.69, a current ratio of 1.61 and a debt-to-equity ratio of 1.01.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the company posted $1.77 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. sell-side analysts forecast that Constellation Brands Inc will post 8.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. Constellation Brands’s dividend payout ratio is 26.60%.
In related news, VP Thomas J. Mullin sold 50,000 shares of Constellation Brands stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total transaction of $10,472,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,952 shares of company stock valued at $14,074,993. Corporate insiders own 15.59% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. raised its holdings in Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after buying an additional 193 shares during the last quarter. North Star Investment Management Corp. grew its stake in shares of Constellation Brands by 11.6% in the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after acquiring an additional 78 shares during the period. Hanson McClain Inc. grew its stake in shares of Constellation Brands by 0.4% in the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after acquiring an additional 3 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of Constellation Brands by 609.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after acquiring an additional 670 shares during the period. Finally, Acrospire Investment Management LLC grew its stake in shares of Constellation Brands by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $155,000 after acquiring an additional 400 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.
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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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