Constellation Brands, Inc. (STZ) Position Boosted by Charter Trust Co.
Charter Trust Co. raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,750 shares of the company’s stock after buying an additional 341 shares during the quarter. Charter Trust Co.’s holdings in Constellation Brands were worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Sun Life Financial INC grew its position in Constellation Brands by 155.3% during the second quarter. Sun Life Financial INC now owns 457 shares of the company’s stock worth $100,000 after buying an additional 278 shares in the last quarter. Atlantic Trust LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $114,000. Truvestments Capital LLC purchased a new position in shares of Constellation Brands in the 3rd quarter worth about $137,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Constellation Brands by 49.3% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 787 shares of the company’s stock worth $170,000 after purchasing an additional 260 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $180,000. Institutional investors and hedge funds own 72.83% of the company’s stock.
A number of equities analysts have recently issued reports on STZ shares. Royal Bank of Canada upped their price objective on Constellation Brands to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, August 22nd. SunTrust Banks cut Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $260.00 to $220.00 in a report on Monday, September 10th. Zacks Investment Research upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Cann cut their price objective on Constellation Brands from $234.00 to $226.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Finally, Guggenheim started coverage on Constellation Brands in a report on Thursday, September 13th. They issued a “sell” rating and a $177.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and a consensus target price of $244.27.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 4th. The company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.27. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. Constellation Brands’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 9.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Monday, November 5th. Constellation Brands’s dividend payout ratio is presently 10.67%.
In other Constellation Brands news, CEO Robert Sands sold 151,060 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the completion of the transaction, the chief executive officer now owns 737,607 shares of the company’s stock, valued at approximately $164,980,557.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard Sands sold 148,773 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $223.69, for a total value of $33,279,032.37. Following the transaction, the chairman now directly owns 346,525 shares of the company’s stock, valued at approximately $77,514,177.25. The disclosure for this sale can be found here. Insiders have sold a total of 578,723 shares of company stock valued at $129,438,449 over the last 90 days. 15.80% of the stock is currently owned by company insiders.
Constellation Brands Company Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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