Icon Advisers Inc. Co. Holds Position in Constellation Brands Inc. (STZ)
Icon Advisers Inc. Co. held its stake in shares of Constellation Brands Inc. (NYSE:STZ) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,700 shares of the company’s stock at the end of the third quarter. Icon Advisers Inc. Co.’s holdings in Constellation Brands were worth $1,615,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Capstone Asset Management Co. boosted its stake in shares of Constellation Brands by 3.8% in the second quarter. Capstone Asset Management Co. now owns 42,946 shares of the company’s stock worth $7,103,000 after buying an additional 1,565 shares during the period. Tompkins Financial Corp boosted its stake in shares of Constellation Brands by 44.2% in the second quarter. Tompkins Financial Corp now owns 1,110 shares of the company’s stock worth $184,000 after buying an additional 340 shares during the period. Banced Corp boosted its stake in shares of Constellation Brands by 1.5% in the second quarter. Banced Corp now owns 4,700 shares of the company’s stock worth $589,000 after buying an additional 70 shares during the period. Atria Investments LLC purchased a new stake in shares of Constellation Brands during the second quarter worth approximately $203,000. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of Constellation Brands by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 151,848 shares of the company’s stock worth $25,116,000 after buying an additional 2,091 shares during the period. Institutional investors and hedge funds own 73.53% of the company’s stock.
Constellation Brands Inc. (NYSE:STZ) traded down 2.99% during mid-day trading on Wednesday, hitting $151.14. The company had a trading volume of 3,313,698 shares. The company has a market capitalization of $30.39 billion, a price-to-earnings ratio of 26.00 and a beta of 0.59. Constellation Brands Inc. has a 52 week low of $130.23 and a 52 week high of $173.55. The firm’s 50 day moving average is $161.61 and its 200 day moving average is $161.99.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.12. The company had revenue of $2.02 billion for the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.56 EPS. On average, equities research analysts predict that Constellation Brands Inc. will post $6.45 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 1.06%. Constellation Brands’s payout ratio is currently 27.49%.
STZ has been the subject of a number of research reports. Citigroup Inc. reissued a “neutral” rating and issued a $191.00 price objective (up previously from $180.00) on shares of Constellation Brands in a research note on Sunday, October 9th. RBC Capital Markets set a $181.00 price objective on Constellation Brands and gave the company a “buy” rating in a research note on Wednesday, September 28th. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. reissued an “outperform” rating on shares of Constellation Brands in a research note on Monday, August 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $185.00 target price on shares of Constellation Brands in a research report on Friday, September 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $178.30.
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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