Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,508 shares of the company's stock after purchasing an additional 12,816 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Constellation Brands worth $16,977,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in STZ. Piscataqua Savings Bank lifted its position in Constellation Brands by 1.7% in the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after acquiring an additional 62 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Constellation Brands by 5.8% in the 1st quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock worth $207,000 after purchasing an additional 62 shares during the period. World Investment Advisors increased its stake in Constellation Brands by 1.7% in the 1st quarter. World Investment Advisors now owns 3,801 shares of the company's stock worth $698,000 after buying an additional 62 shares in the last quarter. Moody National Bank Trust Division increased its stake in Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock worth $1,283,000 after buying an additional 64 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after buying an additional 65 shares in the last quarter. Institutional investors own 77.34% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. UBS Group raised their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the company a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group raised shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price target for the company from $194.00 to $205.00 in a research note on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research note on Thursday, June 5th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $213.74.
Check Out Our Latest Report on Constellation Brands
Insider Buying and Selling at Constellation Brands
In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The disclosure for this sale can be found here. Insiders own 12.45% of the company's stock.
Constellation Brands Stock Down 0.5%
NYSE STZ traded down $0.79 on Friday, hitting $166.25. The stock had a trading volume of 1,631,018 shares, compared to its average volume of 2,467,665. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The business's fifty day moving average price is $170.55 and its 200 day moving average price is $177.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of -69.56, a price-to-earnings-growth ratio of 10.38 and a beta of 0.67.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm posted $3.57 earnings per share. The company's quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.
Constellation Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is presently -170.71%.
Constellation Brands Profile
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Free Report)
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.
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