Investors Sell Constellation Brands Inc (STZ) on Strength (STZ)
Traders sold shares of Constellation Brands Inc (NYSE:STZ) on strength during trading hours on Wednesday. $31.27 million flowed into the stock on the tick-up and $54.97 million flowed out of the stock on the tick-down, for a money net flow of $23.70 million out of the stock. Of all stocks tracked, Constellation Brands had the 19th highest net out-flow for the day. Constellation Brands traded up $0.71 for the day and closed at $195.39
STZ has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $198.00 price objective (down previously from $200.00) on shares of Constellation Brands in a report on Friday, June 23rd. BidaskClub raised Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 price objective on Constellation Brands and gave the stock a “hold” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus target price of $200.53.
The stock has a 50-day moving average price of $191.96 and a 200-day moving average price of $172.89. The stock has a market capitalization of $38.16 billion, a PE ratio of 24.51 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the firm posted $1.54 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, August 7th. Constellation Brands’s payout ratio is 26.03%.
In other Constellation Brands news, EVP Christopher Stenzel sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $196.75, for a total value of $983,750.00. Following the transaction, the executive vice president now directly owns 39,721 shares in the company, valued at $7,815,106.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas Michael Kane sold 4,940 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the transaction, the vice president now owns 8,914 shares in the company, valued at $1,722,897.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,601 shares of company stock worth $18,586,986. Corporate insiders own 15.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its position 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. Quadrant Capital Group LLC boosted its position in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock worth $115,000 after buying an additional 24 shares during the last quarter. Tompkins Financial Corp boosted its position in Constellation Brands by 29.4% in the first quarter. Tompkins Financial Corp now owns 770 shares of the company’s stock worth $116,000 after buying an additional 175 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in Constellation Brands during the first quarter worth $117,000. Finally, Hanson McClain Inc. boosted its position in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock worth $125,000 after buying an additional 2 shares during the last quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.
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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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