Traders Buy Shares of Constellation Brands Inc. (STZ) on Weakness
Investors bought shares of Constellation Brands Inc. (NYSE:STZ) on weakness during trading hours on Friday. $48.44 million flowed into the stock on the tick-up and $34.79 million flowed out of the stock on the tick-down, for a money net flow of $13.65 million into the stock. Of all stocks tracked, Constellation Brands had the 4th highest net in-flow for the day. Constellation Brands traded down ($0.02) for the day and closed at $165.99
A number of research firms have weighed in on STZ. Wells Fargo & Co. reiterated an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a research report on Wednesday. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 price objective on the stock in a research report on Friday, July 1st. Susquehanna reiterated a “hold” rating and set a $155.00 price objective on shares of Constellation Brands in a research report on Tuesday, June 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $181.00 price objective on shares of Constellation Brands in a research report on Wednesday, June 22nd. Finally, SunTrust Banks Inc. reiterated a “buy” rating and set a $180.00 price objective on shares of Constellation Brands in a research report on Friday, June 3rd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $174.10.
The company’s 50 day moving average is $156.82 and its 200-day moving average is $150.82.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 30th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.52 by $0.02. The company had revenue of $1.87 billion for the quarter. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 EPS. On average, equities analysts expect that Constellation Brands Inc. will post $6.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.96%.
In other news, Director Ernesto M. Hernandez sold 700 shares of Constellation Brands stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $156.07, for a total transaction of $109,249.00. Following the transaction, the director now owns 103 shares in the company, valued at approximately $16,075.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Mullin sold 30,000 shares of Constellation Brands stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $165.73, for a total value of $4,971,900.00. Following the transaction, the vice president now owns 101,702 shares in the company, valued at approximately $16,855,072.46. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in Constellation Brands by 251.0% in the fourth quarter. GSA Capital Partners LLP now owns 18,629 shares of the company’s stock valued at $2,654,000 after buying an additional 13,322 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Constellation Brands by 39.5% in the fourth quarter. Private Advisor Group LLC now owns 7,299 shares of the company’s stock valued at $1,040,000 after buying an additional 2,066 shares during the period. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Constellation Brands by 0.3% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 262,763 shares of the company’s stock valued at $37,883,000 after buying an additional 861 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at about $1,842,000. Finally, Quantitative Investment Management LLC raised its stake in shares of Constellation Brands by 100.6% in the fourth quarter. Quantitative Investment Management LLC now owns 31,900 shares of the company’s stock valued at $4,543,000 after buying an additional 16,000 shares during the period.
Constellation Brands, Inc is an international beverage alcohol company. The Company’s operating segments include Beer, Wine and Spirits and Corporate Operations and Other. The Company’s wine portfolio is complemented by select spirits brands and other select beverage alcohol products. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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