Investment Centers of America Inc. Lowers Stake in Constellation Brands Inc (STZ)
Investment Centers of America Inc. lessened its holdings in Constellation Brands Inc (NYSE:STZ) by 40.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,680 shares of the company’s stock after selling 1,154 shares during the period. Investment Centers of America Inc.’s holdings in Constellation Brands were worth $325,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. BT Investment Management Ltd bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $500,000. Amalgamated Bank raised its stake in shares of Constellation Brands by 51.0% during the 2nd quarter. Amalgamated Bank now owns 19,235 shares of the company’s stock worth $3,726,000 after acquiring an additional 6,496 shares in the last quarter. BlackRock Inc. raised its stake in shares of Constellation Brands by 0.9% during the 2nd quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock worth $2,268,295,000 after acquiring an additional 103,312 shares in the last quarter. Comerica Securities Inc. bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $738,000. Finally, Captrust Financial Advisors bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $232,000. 74.96% of the stock is owned by hedge funds and other institutional investors.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $193.28, for a total value of $954,803.20. Following the transaction, the vice president now directly owns 8,914 shares of the company’s stock, valued at approximately $1,722,897.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders sold a total of 108,118 shares of company stock worth $21,052,835 over the last ninety days. Corporate insiders own 15.59% of the company’s stock.
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Constellation Brands Inc (NYSE:STZ) opened at 203.90 on Tuesday. The firm’s 50-day moving average is $198.54 and its 200-day moving average is $183.01. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 25.57 and a beta of 0.03.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.36. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. On average, equities analysts anticipate that Constellation Brands Inc will post $8.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a $0.52 dividend. The ex-dividend date was Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.02%. Constellation Brands’s payout ratio is 26.03%.
Several research analysts recently commented on the stock. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective for the company. in a research note on Monday, May 22nd. UBS AG boosted their price objective on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, June 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective (up previously from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $220.00 price objective (up previously from $188.00) on shares of Constellation Brands in a research note on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $202.00.
Constellation Brands Company 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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