Constellation Brands Inc (NYSE:STZ) Shares Sold by Skylands Capital LLC
Skylands Capital LLC lowered its position in Constellation Brands Inc (NYSE:STZ) by 14.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,800 shares of the company’s stock after selling 1,500 shares during the period. Skylands Capital LLC’s holdings in Constellation Brands were worth $1,705,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Hillman Co. increased its stake in Constellation Brands by 27.1% in the first quarter. Hillman Co. now owns 183,470 shares of the company’s stock worth $29,735,000 after buying an additional 39,122 shares during the period. United Capital Financial Advisers LLC increased its stake in Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock worth $1,477,000 after buying an additional 797 shares during the period. Rathbone Brothers plc increased its stake in Constellation Brands by 1.4% in the first quarter. Rathbone Brothers plc now owns 12,800 shares of the company’s stock worth $2,074,000 after buying an additional 180 shares during the period. Coconut Grove Bank increased its stake in Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock worth $144,000 after buying an additional 458 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Constellation Brands by 8.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 601,095 shares of the company’s stock worth $97,419,000 after buying an additional 46,985 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.
Shares of Constellation Brands Inc (STZ) traded up 0.20% on Friday, reaching $198.52. The company’s stock had a trading volume of 707,862 shares. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $199.89. The company has a market capitalization of $38.77 billion, a price-to-earnings ratio of 24.90 and a beta of 0.07. The stock has a 50-day moving average price of $188.20 and a 200-day moving average price of $169.71.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $1.54 EPS. On average, equities research analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.08 annualized dividend and a dividend yield of 1.05%. Constellation Brands’s dividend payout ratio is currently 26.03%.
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A number of equities research analysts recently commented on the company. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $158.00 target price on shares of Constellation Brands in a report on Wednesday, April 5th. Credit Suisse Group set a $182.00 target price on Constellation Brands and gave the stock a “hold” rating in a report on Saturday, April 8th. Argus lifted their target price on Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. Vetr downgraded Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 target price for the company. in a report on Tuesday, May 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $198.59.
In other news, VP Thomas Michael Kane sold 4,940 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the completion of the sale, the vice president now directly owns 8,914 shares of the company’s stock, valued at approximately $1,722,897.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Locke III sold 6,340 shares of Constellation Brands stock in a transaction on Monday, April 24th. The stock was sold at an average price of $173.05, for a total value of $1,097,137.00. Following the transaction, the director now directly owns 44,415 shares of the company’s stock, valued at $7,686,015.75. The disclosure for this sale can be found here. Insiders sold a total of 47,107 shares of company stock valued at $9,018,910 over the last three months. Insiders own 15.59% of the company’s stock.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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