Oppenheimer Asset Management Inc. Has $112,000 Position in Constellation Brands Inc (STZ)
Oppenheimer Asset Management Inc. boosted its position in Constellation Brands Inc (NYSE:STZ) by 50.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 577 shares of the company’s stock after acquiring an additional 193 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Constellation Brands were worth $112,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Hanson McClain Inc. raised its holdings in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after acquiring an additional 2 shares in the last quarter. Concert Wealth Management Inc. raised its holdings in Constellation Brands by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,379 shares of the company’s stock valued at $212,000 after acquiring an additional 10 shares in the last quarter. Financial Architects Inc raised its holdings in Constellation Brands by 1.4% in the second quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock valued at $344,000 after acquiring an additional 25 shares in the last quarter. Welch Group LLC raised its holdings in Constellation Brands by 2.9% in the second quarter. Welch Group LLC now owns 885 shares of the company’s stock valued at $171,000 after acquiring an additional 25 shares in the last quarter. Finally, Ray Gerald L & Associates Ltd. raised its holdings in Constellation Brands by 0.7% in the second quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock valued at $897,000 after acquiring an additional 30 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Barry A. Fromberg sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the sale, the director now directly owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 108,118 shares of company stock worth $21,052,835. Corporate insiders own 15.59% of the company’s stock.
Several brokerages recently weighed in on STZ. Macquarie began coverage on shares of Constellation Brands in a report on Thursday, September 14th. They issued an “outperform” rating and a $227.00 target price on the stock. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Cowen and Company reaffirmed a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $220.00 target price on shares of Constellation Brands in a report on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) cut shares of Constellation Brands from a “buy” rating to a “neutral” rating and reduced their target price for the company from $212.00 to $210.00 in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $202.00.
Constellation Brands Inc (NYSE STZ) opened at 201.81 on Friday. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $205.12. The stock has a market capitalization of $39.41 billion, a price-to-earnings ratio of 25.31 and a beta of 0.03. The stock’s 50 day moving average is $198.80 and its 200-day moving average is $183.32.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. On average, equities research analysts expect that Constellation Brands Inc will post $8.18 earnings per share for the current year.
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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