Verition Fund Management LLC purchased a new position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,864 shares of the company’s stock, valued at approximately $749,000.

Several other large investors have also modified their holdings of the company. Hanson McClain Inc. lifted its holdings in shares of Constellation Brands by 0.4% during the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after purchasing an additional 3 shares during the period. Financial Architects Inc lifted its holdings in shares of Constellation Brands by 1.4% during the second quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock worth $344,000 after purchasing an additional 25 shares during the period. Welch Group LLC lifted its holdings in shares of Constellation Brands by 2.9% during the second quarter. Welch Group LLC now owns 885 shares of the company’s stock worth $171,000 after purchasing an additional 25 shares during the period. Ray Gerald L & Associates Ltd. lifted its holdings in shares of Constellation Brands by 0.7% during the second quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock worth $897,000 after purchasing an additional 30 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings in shares of Constellation Brands by 0.8% during the second quarter. LS Investment Advisors LLC now owns 4,958 shares of the company’s stock worth $961,000 after purchasing an additional 39 shares during the period. Institutional investors own 74.90% of the company’s stock.

A number of equities analysts have recently commented on the stock. Citigroup Inc. reiterated a “neutral” rating and set a $232.00 price target (up previously from $211.00) on shares of Constellation Brands in a report on Monday, October 9th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $237.00 price target (up previously from $220.00) on shares of Constellation Brands in a report on Friday, October 6th. Cowen and Company reiterated an “outperform” rating and set a $243.00 price target (up previously from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Evercore ISI reiterated an “outperform” rating and set a $235.00 price target (up previously from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Finally, Morgan Stanley lifted their price target on shares of Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $216.00.

Constellation Brands Inc (NYSE:STZ) traded up 0.113% during midday trading on Monday, reaching $208.795. 131,069 shares of the company’s stock traded hands. The stock has a market cap of $40.84 billion, a P/E ratio of 23.986 and a beta of 0.04. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $213.40. The company’s 50-day moving average price is $202.77 and its 200-day moving average price is $188.88.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands Inc will post $8.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 1.00%. Constellation Brands’s dividend payout ratio (DPR) is currently 23.85%.

In other news, VP Thomas J. Mullin sold 54,834 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 86,005 shares in the company, valued at $16,727,972.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,786 shares of company stock worth $15,251,456. Corporate insiders own 15.59% of the company’s stock.

WARNING: “Verition Fund Management LLC Purchases Shares of 3,864 Constellation Brands Inc (STZ)” was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.dailypolitical.com/2017/10/16/verition-fund-management-llc-purchases-shares-of-3864-constellation-brands-inc-stz.html.

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.

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.