PineBridge Investments L.P. Buys 530 Shares of Constellation Brands Inc. (STZ)
PineBridge Investments L.P. increased its stake in Constellation Brands Inc. (NYSE:STZ) by 331.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690 shares of the company’s stock after buying an additional 530 shares during the period. PineBridge Investments L.P.’s holdings in Constellation Brands were worth $115,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Canada Pension Plan Investment Board raised its position in Constellation Brands by 237.7% in the first quarter. Canada Pension Plan Investment Board now owns 76,011 shares of the company’s stock valued at $11,485,000 after buying an additional 53,500 shares in the last quarter. Credit Agricole S A raised its position in Constellation Brands by 18.7% in the first quarter. Credit Agricole S A now owns 204,617 shares of the company’s stock valued at $30,914,000 after buying an additional 32,218 shares in the last quarter. Aviva PLC raised its position in Constellation Brands by 3.6% in the first quarter. Aviva PLC now owns 85,493 shares of the company’s stock valued at $12,917,000 after buying an additional 2,965 shares in the last quarter. Investec Asset Management LTD acquired a new position in Constellation Brands during the first quarter valued at $5,101,000. Finally, M&T Bank Corp raised its position in Constellation Brands by 57.7% in the first quarter. M&T Bank Corp now owns 25,328 shares of the company’s stock valued at $3,828,000 after buying an additional 9,272 shares in the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.
Shares of Constellation Brands Inc. (NYSE:STZ) opened at 168.60 on Thursday. The company has a market cap of $33.81 billion, a PE ratio of 30.38 and a beta of 0.63. Constellation Brands Inc. has a one year low of $130.23 and a one year high of $173.55. The stock’s 50 day moving average price is $165.36 and its 200-day moving average price is $160.21.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.12. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The business had revenue of $2.02 billion for the quarter. During the same period in the previous year, the business posted $1.56 EPS. Constellation Brands’s revenue was up 16.6% compared to the same quarter last year. On average, analysts expect that Constellation Brands Inc. will post $6.30 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. Constellation Brands’s payout ratio is 28.78%.
Several research analysts have weighed in on the company. Pivotal Research reiterated a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a report on Thursday. RBC Capital Markets reiterated an “outperform” rating and set a $181.00 target price on shares of Constellation Brands in a report on Wednesday. Bank of America Corp. reiterated a “buy” rating and set a $185.00 target price on shares of Constellation Brands in a report on Friday, September 30th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a report on Friday, September 16th. Finally, Credit Suisse Group AG initiated coverage on Constellation Brands in a report on Thursday, September 15th. They set a “neutral” rating and a $178.00 target price on the stock. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $175.27.
In related news, VP F Paul Hetterich sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $164.60, for a total value of $1,646,000.00. Following the transaction, the vice president now owns 61,404 shares of the company’s stock, valued at approximately $10,107,098.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William F. Hackett sold 8,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the completion of the transaction, the executive vice president now directly owns 54,934 shares in the company, valued at approximately $9,045,981.78. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands Inc. (NYSE:STZ).
Receive News & Ratings for Constellation Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.