Winslow Evans & Crocker Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 30.2% in the 1st quarter, Holdings Channel reports. The firm owned 4,508 shares of the company’s stock after acquiring an additional 1,046 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Constellation Brands were worth $792,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of STZ. Truewealth LLC lifted its stake in Constellation Brands by 467.9% in the 4th quarter. Truewealth LLC now owns 159 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares during the last quarter. City Holding Co. acquired a new stake in Constellation Brands during the fourth quarter worth approximately $31,000. Ledyard National Bank acquired a new stake in Constellation Brands during the fourth quarter worth approximately $31,000. We Are One Seven LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $32,000. Finally, Quantamental Technologies LLC acquired a new stake in Constellation Brands during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 73.17% of the company’s stock.
Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Constellation Brands from $267.00 to $275.00 and gave the stock a “top pick” rating in a research report on Monday. Barclays set a $226.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Friday, April 5th. Macquarie set a $183.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Friday, April 5th. ValuEngine raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Deutsche Bank cut shares of Constellation Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $191.00 to $194.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $223.13.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.12. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 8.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, May 9th. Constellation Brands’s dividend payout ratio (DPR) is 31.90%.
In related news, VP Thomas Michael Kane sold 3,071 shares of Constellation Brands stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $190.08, for a total value of $583,735.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Barry A. Fromberg sold 1,500 shares of Constellation Brands stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $174.72, for a total transaction of $262,080.00. Following the completion of the transaction, the director now directly owns 18,240 shares in the company, valued at $3,186,892.80. The disclosure for this sale can be found here. Insiders sold 5,381 shares of company stock worth $985,986 over the last three months. 15.80% of the stock is currently owned by insiders.
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Constellation Brands 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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