Constellation Brands Inc (NYSE:STZ) Shares Sold by Nuveen Asset Management LLC
Nuveen Asset Management LLC decreased its stake in Constellation Brands Inc (NYSE:STZ) by 91.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,520 shares of the company’s stock after selling 49,376 shares during the period. Nuveen Asset Management LLC’s holdings in Constellation Brands were worth $733,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Hanson McClain Inc. boosted its position in Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Concert Wealth Management Inc. boosted its position in Constellation Brands by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,379 shares of the company’s stock valued at $212,000 after buying an additional 10 shares during the period. Quadrant Capital Group LLC boosted its position in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares during the period. Atria Investments LLC boosted its position in Constellation Brands by 1.6% in the first quarter. Atria Investments LLC now owns 1,702 shares of the company’s stock valued at $276,000 after buying an additional 26 shares during the period. Finally, Usca Ria LLC boosted its position in Constellation Brands by 0.8% in the first quarter. Usca Ria LLC now owns 6,140 shares of the company’s stock valued at $995,000 after buying an additional 50 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.
Shares of Constellation Brands Inc (NYSE:STZ) opened at 193.38 on Thursday. The company’s 50-day moving average price is $189.39 and its 200-day moving average price is $170.96. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89. The company has a market capitalization of $37.77 billion, a price-to-earnings ratio of 24.25 and a beta of 0.07.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, August 7th. This represents a $2.08 annualized dividend and a yield of 1.08%. Constellation Brands’s dividend payout ratio is currently 26.03%.
Several equities analysts have commented on STZ shares. Vetr cut Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target for the company. in a report on Tuesday, May 16th. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price target for the company in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) raised Constellation Brands from a “buy” rating to a “conviction-buy” rating and cut their price target for the company from $200.00 to $168.95 in a report on Monday, April 17th. Argus upped their price target on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 5th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $215.00 price target (up previously from $205.00) on shares of Constellation Brands in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands presently has an average rating of “Buy” and a consensus target price of $198.47.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the transaction, the director now directly owns 22,820 shares in the company, valued at $4,471,122.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $193.28, for a total transaction of $954,803.20. Following the transaction, the vice president now owns 8,914 shares of the company’s stock, valued at $1,722,897.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,767 shares of company stock valued at $7,921,773. Company 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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