Constellation Brands Inc (STZ) Shares Bought by Arrow Financial Corp
Arrow Financial Corp boosted its position in Constellation Brands Inc (NYSE:STZ) by 22.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,417 shares of the company’s stock after buying an additional 1,361 shares during the period. Arrow Financial Corp’s holdings in Constellation Brands were worth $1,437,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of STZ. Hillman Co. boosted its stake in shares of 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 in the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of 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 in the last quarter. Coconut Grove Bank boosted its stake in shares of 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of 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 in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Constellation Brands by 44.4% in the first quarter. Nationwide Fund Advisors now owns 121,213 shares of the company’s stock worth $19,645,000 after buying an additional 37,296 shares in the last quarter. Institutional investors own 76.14% of the company’s stock.
Constellation Brands Inc (NYSE:STZ) opened at 194.68 on Wednesday. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $199.89. The firm’s 50-day moving average is $191.96 and its 200 day moving average is $172.89. The firm has a market capitalization of $38.02 billion, a P/E ratio of 24.42 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company 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 firm posted $1.54 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts expect that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio is currently 26.03%.
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STZ has been the subject of a number of research analyst reports. Morgan Stanley boosted their price objective on Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $198.00 price objective (down previously from $200.00) on shares of Constellation Brands in a report on Friday, June 23rd. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 price objective on Constellation Brands and gave the stock a “hold” rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Constellation Brands currently has an average rating of “Buy” and an average price target of $200.53.
In other news, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the completion of the sale, the vice president now directly owns 86,005 shares of the company’s stock, valued at approximately $16,727,972.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Michael Kane sold 4,940 shares of Constellation Brands stock in a transaction on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the sale, the vice president now directly owns 8,914 shares of the company’s stock, valued at $1,722,897.92. The disclosure for this sale can be found here. Insiders have sold a total of 95,601 shares of company stock valued at $18,586,986 over the last ninety days. 15.59% of the stock is currently owned by insiders.
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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