Mitchell Capital Management Co. purchased a new stake in Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,384 shares of the company’s stock, valued at approximately $2,787,000.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after buying an additional 11,264,949 shares during the period. State Street Corp increased its position in Constellation Brands by 0.5% in the first quarter. State Street Corp now owns 7,391,582 shares of the company’s stock valued at $1,197,945,000 after buying an additional 39,246 shares during the period. JPMorgan Chase & Co. increased its position in Constellation Brands by 9.0% in the first quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock valued at $741,999,000 after buying an additional 378,620 shares during the period. Egerton Capital UK LLP increased its position in Constellation Brands by 10.4% in the first quarter. Egerton Capital UK LLP now owns 2,485,583 shares of the company’s stock valued at $402,838,000 after buying an additional 234,607 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Constellation Brands by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,045,867 shares of the company’s stock valued at $331,574,000 after buying an additional 71,963 shares during the period. Institutional investors and hedge funds own 76.14% of the company’s stock.
Shares of Constellation Brands Inc (NYSE STZ) traded up 0.49% during midday trading on Friday, reaching $195.65. 897,797 shares of the company were exchanged. The stock’s 50-day moving average price is $193.61 and its 200-day moving average price is $174.46. The company has a market capitalization of $38.21 billion, a PE ratio of 24.54 and a beta of 0.06. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm earned $1.54 EPS. Constellation Brands’s revenue was up 3.4% on a year-over-year basis. Analysts anticipate that Constellation Brands Inc will post $8.17 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
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STZ has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Constellation Brands from $204.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and issued a $220.00 price target on shares of Constellation Brands in a research note on Wednesday, August 2nd. UBS AG boosted their price target on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, June 30th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $216.00 price target (up previously from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $200.53.
In other news, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total value of $10,665,213.00. Following the transaction, the vice president now owns 86,005 shares of the company’s stock, valued at approximately $16,727,972.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Michael Kane sold 4,940 shares of Constellation Brands stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the transaction, the vice president now directly owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. Insiders have sold a total of 95,601 shares of company stock worth $18,586,986 over the last 90 days. 15.59% of the stock is owned by insiders.
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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