Commerzbank Aktiengesellschaft FI raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,684 shares of the company’s stock after acquiring an additional 4,243 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Constellation Brands were worth $7,189,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in STZ. Vanguard Group Inc. raised its stake in Constellation Brands by 1.0% in the second quarter. Vanguard Group Inc. now owns 12,137,423 shares of the company’s stock valued at $2,390,344,000 after buying an additional 122,268 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Constellation Brands by 65.0% in the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock worth $697,895,000 after purchasing an additional 1,395,888 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Constellation Brands by 120.4% in the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock worth $537,087,000 after purchasing an additional 1,490,064 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Constellation Brands by 11.4% in the second quarter. Janus Henderson Group PLC now owns 2,363,365 shares of the company’s stock worth $465,445,000 after purchasing an additional 242,621 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Constellation Brands by 68.1% in the second quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock worth $305,847,000 after purchasing an additional 629,124 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors.
STZ traded down $2.72 on Friday, hitting $187.56. 1,424,377 shares of the company were exchanged, compared to its average volume of 1,745,636. Constellation Brands, Inc. has a twelve month low of $150.37 and a twelve month high of $214.48. The company has a market cap of $36.74 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.88 and a beta of 0.67. The company has a current ratio of 1.61, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $196.98 and a two-hundred day moving average price of $198.09.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $2.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.12. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. Constellation Brands’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.87 EPS. Equities analysts expect that Constellation Brands, Inc. will post 8.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, November 7th. Constellation Brands’s payout ratio is currently 10.02%.
Several research firms recently commented on STZ. BMO Capital Markets raised their target price on Constellation Brands from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. MKM Partners dropped their price objective on Constellation Brands to $256.00 and set a “buy” rating on the stock in a report on Friday, October 4th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a report on Thursday, October 3rd. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 price target on the stock in a research note on Monday, September 23rd. Finally, Argus lifted their price target on Constellation Brands to $230.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $223.76.
In other news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $204.57, for a total value of $19,540,730.97. Following the completion of the sale, the insider now directly owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.86% of the stock is currently owned by insiders.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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