Constellation Brands Inc (STZ) Holdings Increased by Fayez Sarofim & Co.
Fayez Sarofim & Co. boosted its position in Constellation Brands Inc (NYSE:STZ) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 390,511 shares of the company’s stock after acquiring an additional 15,291 shares during the period. Fayez Sarofim & Co. owned about 0.20% of Constellation Brands worth $77,887,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in STZ. LS Investment Advisors LLC grew its stake in Constellation Brands by 0.8% in the 2nd quarter. LS Investment Advisors LLC now owns 4,958 shares of the company’s stock worth $961,000 after acquiring an additional 39 shares during the period. North Star Investment Management Corp. grew its stake in Constellation Brands by 11.6% in the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after acquiring an additional 78 shares during the period. Oakbrook Investments LLC purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $1,322,000. Wright Investors Service Inc. grew its stake in Constellation Brands by 22.4% in the 2nd quarter. Wright Investors Service Inc. now owns 10,788 shares of the company’s stock worth $2,090,000 after acquiring an additional 1,975 shares during the period. Finally, Forsta AP Fonden purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $7,284,000. 74.38% of the stock is owned by hedge funds and other institutional investors.
STZ has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $216.00 target price (up from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) lowered shares of Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price target for the company from $212.00 to $210.00 in a report on Monday, July 24th. BidaskClub lowered shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 price target on shares of Constellation Brands in a report on Wednesday, August 2nd. Finally, Cowen and Company reiterated a “buy” rating and issued a $230.00 price target on shares of Constellation Brands in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $216.00.
In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the transaction, the vice president now owns 72,924 shares in the company, valued at approximately $15,825,237.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry A. Fromberg sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was 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. Insiders sold a total of 86,179 shares of company stock worth $18,030,434 in the last quarter. 15.59% of the stock is currently owned by company insiders.
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Constellation Brands Inc (STZ) traded down $1.05 during trading hours on Friday, hitting $216.29. 848,218 shares of the company traded hands, compared to its average volume of 1,055,997. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69. The firm has a market cap of $42,307.84, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.39 and a beta of 0.10. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $227.20.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 5th. The company reported $2.47 earnings per share 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 business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business posted $1.77 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. equities research analysts forecast that Constellation Brands Inc will post 8.43 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a yield of 0.96%. Constellation Brands’s dividend payout ratio is currently 23.85%.
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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