Investors Sell Shares of Constellation Brands Inc. (STZ) on Strength (STZ)
Traders sold shares of Constellation Brands Inc. (NYSE:STZ) on strength during trading on Wednesday. $22.41 million flowed into the stock on the tick-up and $50.32 million flowed out of the stock on the tick-down, for a money net flow of $27.91 million out of the stock. Of all companies tracked, Constellation Brands had the 14th highest net out-flow for the day. Constellation Brands traded up $1.46 for the day and closed at $166.11
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating and set a $183.00 target price for the company in a report on Friday, July 1st. Wells Fargo & Co. restated a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Susquehanna restated a “hold” rating and set a $155.00 target price on shares of Constellation Brands in a report on Tuesday, June 28th. Royal Bank Of Canada restated an “outperform” rating and set a $181.00 target price on shares of Constellation Brands in a report on Wednesday, June 22nd. Finally, Vetr upgraded Constellation Brands from a “sell” rating to a “strong-buy” rating and set a $181.72 target price for the company in a report on Monday, May 9th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $174.10.
The firm has a 50 day moving average of $162.88 and a 200-day moving average of $153.99.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.02. The business had revenue of $1.87 billion for the quarter. During the same period in the previous year, the business earned $1.26 EPS. Constellation Brands’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts anticipate that Constellation Brands Inc. will post $6.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 0.96%.
In other Constellation Brands news, Director Keith E. Wandell sold 6,517 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $155.11, for a total transaction of $1,010,851.87. Following the completion of the transaction, the director now owns 14,612 shares in the company, valued at $2,266,467.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Eric Klein sold 14,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $166.27, for a total value of $2,377,661.00. Following the transaction, the chief financial officer now owns 36,152 shares of the company’s stock, valued at approximately $6,010,993.04. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in the stock. Principal Financial Group Inc. raised its position in shares of Constellation Brands by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 269,551 shares of the company’s stock valued at $38,395,000 after buying an additional 11,357 shares during the period. Aberdeen Asset Management PLC UK increased its stake in Constellation Brands by 27.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 34,110 shares of the company’s stock valued at $4,700,000 after buying an additional 7,372 shares in the last quarter. Victory Capital Management Inc. increased its stake in Constellation Brands by 11.8% in the fourth quarter. Victory Capital Management Inc. now owns 25,997 shares of the company’s stock valued at $3,703,000 after buying an additional 2,752 shares in the last quarter. Advantus Capital Management Inc increased its stake in Constellation Brands by 4.2% in the fourth quarter. Advantus Capital Management Inc now owns 16,832 shares of the company’s stock valued at $2,398,000 after buying an additional 681 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in Constellation Brands by 5.9% in the fourth quarter. Suntrust Banks Inc. now owns 16,298 shares of the company’s stock valued at $2,320,000 after buying an additional 902 shares in the last quarter.
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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