Pacad Investment Ltd. Lowers Position in Constellation Brands Inc (STZ)
Pacad Investment Ltd. reduced its stake in shares of Constellation Brands Inc (NYSE:STZ) by 64.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,431 shares of the company’s stock after selling 24,198 shares during the period. Pacad Investment Ltd.’s holdings in Constellation Brands were worth $2,602,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Hanson McClain Inc. raised its stake 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 buying an additional 2 shares during the period. Concert Wealth Management Inc. raised its stake 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 buying an additional 10 shares during the period. Financial Architects Inc raised its stake 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 buying an additional 25 shares during the period. Welch Group LLC raised its stake 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 buying an additional 25 shares during the period. Finally, Ray Gerald L & Associates Ltd. raised its stake 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 buying an additional 30 shares during the period. 74.95% of the stock is currently owned by institutional investors.
Shares of Constellation Brands Inc (STZ) traded up 0.24% during mid-day trading on Thursday, reaching $200.01. The company’s stock had a trading volume of 156,573 shares. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $200.64. The firm’s 50 day moving average is $195.94 and its 200-day moving average is $177.85. The company has a market capitalization of $39.07 billion, a PE ratio of 25.09 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last released 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. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Monday, August 7th. Constellation Brands’s dividend payout ratio is 26.03%.
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Several research firms have weighed in on STZ. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price (up previously from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $220.00 price objective (up previously from $188.00) on shares of Constellation Brands in a research note on Friday, June 30th. Vetr lowered Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a research note on Monday, May 22nd. UBS AG increased their price objective on Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average target price of $200.53.
In other Constellation Brands news, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total value of $2,465,849.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Barry A. Fromberg sold 2,000 shares of Constellation Brands stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $195.93, for a total value of $391,860.00. Following the completion of the sale, the director now directly owns 22,820 shares in the company, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders sold a total of 108,118 shares of company stock worth $21,052,835 in the last three months. Company insiders own 15.59% of the company’s stock.
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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