Bridges Investment Management Inc. Increases Position in Constellation Brands, Inc. (STZ)
Bridges Investment Management Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 63.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 17,338 shares of the company’s stock after acquiring an additional 6,698 shares during the period. Bridges Investment Management Inc.’s holdings in Constellation Brands were worth $3,739,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Koshinski Asset Management Inc. raised its stake in Constellation Brands by 87.8% in the 3rd quarter. Koshinski Asset Management Inc. now owns 17,748 shares of the company’s stock valued at $3,827,000 after acquiring an additional 8,296 shares during the period. Captrust Financial Advisors increased its position in shares of Constellation Brands by 224.9% during the third quarter. Captrust Financial Advisors now owns 1,030 shares of the company’s stock valued at $222,000 after buying an additional 713 shares during the period. Resources Management Corp CT ADV bought a new stake in shares of Constellation Brands during the third quarter valued at about $3,448,000. HPM Partners LLC increased its position in shares of Constellation Brands by 44.4% during the third quarter. HPM Partners LLC now owns 2,469 shares of the company’s stock valued at $532,000 after buying an additional 759 shares during the period. Finally, BRYN MAWR TRUST Co increased its position in shares of Constellation Brands by 110.7% during the third quarter. BRYN MAWR TRUST Co now owns 2,137 shares of the company’s stock valued at $461,000 after buying an additional 1,123 shares during the period. Institutional investors and hedge funds own 72.73% of the company’s stock.
Several brokerages have recently weighed in on STZ. ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. SunTrust Banks cut Constellation Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $260.00 to $220.00 in a research report on Monday, September 10th. Morgan Stanley set a $255.00 price target on Constellation Brands and gave the company a “buy” rating in a research report on Friday, October 5th. JPMorgan Chase & Co. decreased their price target on Constellation Brands from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, September 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $289.00 price target on shares of Constellation Brands in a research report on Friday, December 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Constellation Brands presently has a consensus rating of “Buy” and an average price target of $242.80.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, October 4th. The company reported $2.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.60 by $0.27. Constellation Brands had a return on equity of 18.63% and a net margin of 38.18%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Constellation Brands’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Constellation Brands, Inc. will post 9.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Monday, November 5th. Constellation Brands’s payout ratio is 10.67%.
In other news, CEO Robert Sands sold 151,060 shares of the business’s stock in a transaction dated 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 $164,980,557.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard Sands sold 148,773 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was 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 578,723 shares of company stock valued at $129,438,449 in the last three months. 15.80% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: This article was posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.dailypolitical.com/2018/12/18/bridges-investment-management-inc-increases-position-in-constellation-brands-inc-stz.html.
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.
Read More: What are the benefits of a balanced fund?
Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZ).
Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.