Constellation Brands Inc. (STZ) Shares Sold by Swiss National Bank
Swiss National Bank cut its stake in Constellation Brands Inc. (NYSE:STZ) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 488,516 shares of the company’s stock after selling 4,600 shares during the period. Swiss National Bank’s holdings in Constellation Brands were worth $81,333,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. PineBridge Investments L.P. boosted its stake in Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock valued at $115,000 after buying an additional 530 shares during the period. Hanson McClain Inc. boosted its stake in Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares during the period. Brick & Kyle Associates boosted its stake in Constellation Brands by 1.9% in the third quarter. Brick & Kyle Associates now owns 815 shares of the company’s stock valued at $136,000 after buying an additional 15 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in Constellation Brands by 179.0% in the third quarter. Duncker Streett & Co. Inc. now owns 837 shares of the company’s stock valued at $139,000 after buying an additional 537 shares during the period. Hedge funds and other institutional investors own 73.53% of the company’s stock.
Shares of Constellation Brands Inc. (NYSE:STZ) opened at 156.27 on Tuesday. The company has a market capitalization of $31.42 billion, a P/E ratio of 26.89 and a beta of 0.59. Constellation Brands Inc. has a 1-year low of $130.23 and a 1-year high of $173.55. The firm’s 50 day moving average price is $162.05 and its 200-day moving average price is $162.03.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results 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. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The business had revenue of $2.02 billion for the quarter. During the same period in the previous year, the company posted $1.56 EPS. Constellation Brands’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts expect that Constellation Brands Inc. will post $6.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, November 4th. Constellation Brands’s payout ratio is currently 27.49%.
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Several analysts recently weighed in on STZ shares. Susquehanna reiterated a “hold” rating on shares of Constellation Brands in a report on Monday, August 8th. reiterated an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Morgan Stanley reiterated a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. Finally, Credit Suisse Group AG started coverage on shares of Constellation Brands in a report on Thursday, September 15th. They issued a “neutral” rating and a $178.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Constellation Brands presently has an average rating of “Buy” and an average target price of $178.30.
Constellation Brands Company Profile
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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