Bank Hapoalim BM Takes Position in Constellation Brands Inc (STZ)
Bank Hapoalim BM acquired a new stake in Constellation Brands Inc (NYSE:STZ) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,928 shares of the company’s stock, valued at approximately $385,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Constellation Brands by 0.9% in the 2nd quarter. BlackRock Inc. now owns 11,708,547 shares of the company’s stock valued at $2,268,295,000 after buying an additional 103,312 shares during the period. Vanguard Group Inc. increased its stake in Constellation Brands by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,276,593 shares of the company’s stock valued at $2,184,613,000 after buying an additional 350,346 shares during the period. Egerton Capital UK LLP increased its stake in shares of Constellation Brands by 13.0% during the 3rd quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after purchasing an additional 353,490 shares during the last quarter. 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, The Manufacturers Life Insurance Company increased its stake in shares of Constellation Brands by 488.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after purchasing an additional 990,152 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.
In other Constellation Brands news, VP Thomas J. Mullin sold 50,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction on 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. Over the last three months, insiders sold 86,179 shares of company stock valued at $18,030,434. Insiders own 15.59% of the company’s stock.
Several brokerages have recently commented on STZ. 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. Cowen and Company restated a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a research note on Thursday, August 3rd. Susquehanna Bancshares Inc restated a “neutral” rating and set a $193.00 price target (up previously from $169.00) on shares of Constellation Brands in a research note on Monday, October 2nd. Citigroup Inc. restated a “neutral” rating and set a $232.00 price target (up previously from $211.00) on shares of Constellation Brands in a research note on Monday, October 9th. Finally, BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 18th. One 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. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $216.00.
Shares of Constellation Brands Inc (STZ) traded up $1.69 during trading on Thursday, reaching $218.85. 168,929 shares of the company’s stock were exchanged, compared to its average volume of 1,483,409. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $227.20. The company has a market cap of $42,659.93, a P/E ratio of 26.43, a PEG ratio of 1.41 and a beta of 0.10.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm earned $1.77 EPS. The business’s revenue was up 3.1% on a year-over-year basis. analysts forecast that Constellation Brands Inc will post 8.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is presently 23.85%.
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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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