Balasa Dinverno & Foltz LLC Takes $204,000 Position in Constellation Brands Inc (STZ)
Balasa Dinverno & Foltz LLC bought a new position in Constellation Brands Inc (NYSE:STZ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,022 shares of the company’s stock, valued at approximately $204,000.
Other institutional investors have also recently added to or reduced their stakes in the company. DSAM Partners London Ltd bought a new stake in shares of Constellation Brands in the 2nd quarter worth about $21,659,000. Brighton Jones LLC bought a new stake in shares of Constellation Brands in the 2nd quarter worth about $245,000. Cipher Capital LP bought a new stake in shares of Constellation Brands in the 2nd quarter worth about $7,833,000. D L Carlson Investment Group Inc. lifted its holdings in shares of Constellation Brands by 22.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 27,410 shares of the company’s stock worth $5,310,000 after acquiring an additional 5,005 shares during the last quarter. Finally, Oak Ridge Investments LLC lifted its holdings in shares of Constellation Brands by 24.4% in the 2nd quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock worth $6,956,000 after acquiring an additional 7,052 shares during the last quarter. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Several equities research analysts have recently issued reports on STZ shares. Morgan Stanley restated an “overweight” rating and issued a $204.00 target price on shares of Constellation Brands in a report on Monday, June 26th. Stifel Nicolaus raised their target price on shares of Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $212.00 target price (up previously from $198.00) on shares of Constellation Brands in a report on Friday, June 30th. J P Morgan Chase & Co restated an “overweight” rating and issued a $220.00 target price (up previously from $188.00) on shares of Constellation Brands in a report on Friday, June 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price (up previously from $205.00) on shares of Constellation Brands in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $216.00.
In other news, Director Barry A. Fromberg sold 2,500 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas J. Mullin sold 54,834 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the sale, the vice president now directly owns 86,005 shares in the company, valued at approximately $16,727,972.50. The disclosure for this sale can be found here. Insiders have sold 122,786 shares of company stock worth $24,740,206 in the last three months. Corporate insiders own 15.59% of the company’s stock.
Constellation Brands Inc (NYSE:STZ) opened at 211.7746 on Monday. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $214.53. The firm’s 50-day moving average is $204.50 and its 200-day moving average is $190.28. The stock has a market cap of $41.42 billion, a P/E ratio of 24.3279 and a beta of 0.04.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. Equities research analysts predict that Constellation Brands Inc will post $8.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given 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 0.98%. Constellation Brands’s dividend payout ratio is presently 23.85%.
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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