Constellation Brands Inc (STZ) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its stake in shares of Constellation Brands Inc (NYSE:STZ) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,043,845 shares of the company’s stock after selling 46,056 shares during the period. PNC Financial Services Group Inc. owned about 0.53% of Constellation Brands worth $202,223,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. DSAM Partners London Ltd bought a new position in Constellation Brands during the second quarter valued at approximately $21,659,000. United Capital Financial Advisers LLC lifted its position in Constellation Brands by 9.6% during the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after purchasing an additional 797 shares during the period. Brighton Jones LLC bought a new position in Constellation Brands during the second quarter valued at approximately $245,000. Cipher Capital LP bought a new position in Constellation Brands during the second quarter valued at approximately $7,833,000. Finally, D L Carlson Investment Group Inc. lifted its position in Constellation Brands by 22.3% during the second quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock valued at $5,310,000 after purchasing an additional 5,005 shares during the period. Institutional investors own 74.95% of the company’s stock.
In related news, Director Barry A. Fromberg sold 2,000 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $195.93, for a total value of $391,860.00. Following the completion of the transaction, the director now directly owns 22,820 shares in the company, valued at approximately $4,471,122.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,118 shares of company stock valued at $21,052,835. Company insiders own 15.59% of the company’s stock.
Shares of Constellation Brands Inc (STZ) traded down 0.48% during mid-day trading on Friday, hitting $203.40. 1,398,954 shares of the stock were exchanged. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $205.12. The company has a market cap of $39.72 billion, a P/E ratio of 25.51 and a beta of 0.03. The stock’s 50-day moving average price is $198.27 and its 200-day moving average price is $182.34.
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 analysts’ expectations of $1.95 billion. During the same period in the previous year, the business posted $1.54 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands Inc will post $8.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, August 7th. Constellation Brands’s dividend payout ratio is currently 26.03%.
STZ has been the topic of a number of research analyst reports. Vetr downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a research report on Monday, May 22nd. BidaskClub downgraded shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Morgan Stanley restated an “overweight” rating and set a $204.00 price objective on shares of Constellation Brands in a research report on Monday, June 12th. Royal Bank Of Canada restated a “buy” rating on shares of Constellation Brands in a research report on Friday, June 16th. Finally, Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $202.00.
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Constellation Brands Profile
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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