Parametric Portfolio Associates LLC Has $125.31 Million Holdings in Constellation Brands Inc (STZ)
Parametric Portfolio Associates LLC raised its position in Constellation Brands Inc (NYSE:STZ) by 111.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 646,814 shares of the company’s stock after buying an additional 340,712 shares during the period. Parametric Portfolio Associates LLC owned 0.33% of Constellation Brands worth $125,307,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of STZ. BlackRock Inc. increased its stake in shares of Constellation Brands by 3,310.4% during the 1st quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock worth $1,880,863,000 after purchasing an additional 11,264,949 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Constellation Brands during the 1st quarter worth approximately $132,686,000. Marshall Wace North America L.P. purchased a new stake in shares of Constellation Brands during the 1st quarter worth approximately $132,686,000. Alliancebernstein L.P. increased its stake in shares of Constellation Brands by 87.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after purchasing an additional 786,726 shares during the last quarter. Finally, OZ Management LP purchased a new stake in shares of Constellation Brands during the 1st quarter worth approximately $121,982,000. Hedge funds and other institutional investors own 74.96% of the company’s stock.
Shares of Constellation Brands Inc (STZ) traded up 0.39% on Friday, reaching $201.81. 736,801 shares of the company’s stock traded hands. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $205.12. The stock has a market cap of $39.41 billion, a price-to-earnings ratio of 25.31 and a beta of 0.03. The firm’s 50-day moving average is $198.80 and its 200-day moving average is $183.32.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. The firm had revenue of $1.94 billion during 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 revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 earnings per share. Analysts anticipate that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
In other news, EVP William F. Hackett sold 12,517 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total transaction of $391,860.00. Following the completion of the sale, the director now directly owns 22,820 shares of the company’s stock, valued at $4,471,122.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,118 shares of company stock valued at $21,052,835. Corporate insiders own 15.59% of the company’s stock.
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Several equities research analysts have recently issued reports on STZ shares. Morgan Stanley raised their price target on shares of Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Macquarie started coverage on shares of Constellation Brands in a research note on Thursday, September 14th. They set an “outperform” rating and a $227.00 price target for the company. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a research note on Wednesday, August 2nd. Finally, UBS AG raised their price target 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. 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $202.00.
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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