Constellation Brands Inc. (STZ) Declares $0.40 Quarterly Dividend
Constellation Brands Inc. (NYSE:STZ) declared a quarterly dividend on Wednesday, October 5th. Investors of record on Tuesday, November 8th will be given a dividend of 0.40 per share on Tuesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%.
Constellation Brands (NYSE:STZ) opened at 168.60 on Thursday. Constellation Brands has a 1-year low of $130.23 and a 1-year high of $173.55. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 30.38 and a beta of 0.63. The company has a 50 day moving average price of $165.36 and a 200-day moving average price of $160.21.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.12. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.56 EPS. On average, analysts forecast that Constellation Brands will post $6.30 EPS for the current fiscal year.
Several research firms have weighed in on STZ. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Constellation Brands in a report on Wednesday. Zacks Investment Research cut Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Susquehanna reaffirmed a “hold” rating on shares of Constellation Brands in a report on Monday, August 8th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $185.00 price target on shares of Constellation Brands in a report on Wednesday, July 6th. Six 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’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $175.27.
In other news, VP Thomas J. Mullin sold 9,516 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the completion of the transaction, the vice president now owns 88,602 shares in the company, valued at approximately $14,745,144.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas Michael Kane sold 7,000 shares of Constellation Brands stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $163.26, for a total value of $1,142,820.00. Following the transaction, the vice president now owns 8,764 shares of the company’s stock, valued at approximately $1,430,810.64. The disclosure for this sale can be found here. 10.63% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in STZ. Alliancebernstein L.P. boosted its position in shares of Constellation Brands by 19.2% in the second quarter. Alliancebernstein L.P. now owns 349,401 shares of the company’s stock worth $57,791,000 after buying an additional 56,166 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Constellation Brands by 41.2% in the second quarter. Canada Pension Plan Investment Board now owns 107,311 shares of the company’s stock worth $17,749,000 after buying an additional 31,300 shares during the last quarter. Employees Retirement System of Texas boosted its position in shares of Constellation Brands by 6.3% in the second quarter. Employees Retirement System of Texas now owns 42,500 shares of the company’s stock worth $7,030,000 after buying an additional 2,500 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Constellation Brands during the second quarter worth about $364,000. Finally, Reliance Trust Co. of Delaware boosted its position in shares of Constellation Brands by 13.7% in the second quarter. Reliance Trust Co. of Delaware now owns 2,202 shares of the company’s stock worth $364,000 after buying an additional 265 shares during the last quarter. Institutional investors and hedge funds own 75.05% 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 and wine the United States and Canada. 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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