TD Asset Management Inc. Acquires 2,723 Shares of Constellation Brands Inc (NYSE:STZ)
TD Asset Management Inc. raised its stake in Constellation Brands Inc (NYSE:STZ) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 100,220 shares of the company’s stock after buying an additional 2,723 shares during the period. TD Asset Management Inc.’s holdings in Constellation Brands were worth $19,416,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new stake in shares of Constellation Brands during the first quarter valued at $117,000. North Star Investment Management Corp. increased 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 buying an additional 78 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of 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 in the last quarter. Hanson McClain Inc. increased its stake in shares of 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 in the last quarter. Finally, Tompkins Financial Corp increased its stake in shares of 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 in the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.
Constellation Brands Inc (NYSE:STZ) opened at 195.65 on Friday. The stock has a 50 day moving average of $193.61 and a 200 day moving average of $174.46. Constellation Brands Inc has a one year low of $144.00 and a one year high of $199.89. The firm has a market cap of $38.21 billion, a PE ratio of 24.54 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. On average, equities analysts forecast that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.06%. The ex-dividend date is Monday, August 7th. Constellation Brands’s payout ratio is currently 26.03%.
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A number of equities research analysts have commented on STZ shares. Morgan Stanley increased their price objective on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $220.00 price objective on shares of Constellation Brands in a research report on Wednesday, August 2nd. UBS AG increased their price objective on shares of Constellation Brands from $162.00 to $176.00 and gave the company a “neutral” rating in a research report on Friday, June 30th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $216.00 price objective (up from $215.00) on shares of Constellation Brands in a research report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $200.53.
In related news, VP Thomas J. Mullin sold 54,834 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the sale, the vice president now owns 86,005 shares of the company’s stock, valued at $16,727,972.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry A. Fromberg sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the sale, the director now directly owns 22,820 shares of the company’s stock, valued at approximately $4,471,122.60. The disclosure for this sale can be found here. Insiders sold 95,601 shares of company stock valued at $18,586,986 in the last ninety days. Corporate 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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