Oakworth Capital Inc. boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 52,917 shares of the company’s stock after purchasing an additional 1,430 shares during the period. Constellation Brands accounts for 2.0% of Oakworth Capital Inc.’s holdings, making the stock its 12th biggest holding. Oakworth Capital Inc.’s holdings in Constellation Brands were worth $10,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc increased its holdings in shares of Constellation Brands by 210.9% during the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock valued at $25,000 after purchasing an additional 97 shares during the period. Mosaic Family Wealth LLC acquired a new position in shares of Constellation Brands during the first quarter valued at $27,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Constellation Brands during the first quarter valued at $33,000. Gradient Investments LLC increased its holdings in shares of Constellation Brands by 265.3% during the second quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the period. Finally, Next Capital Management LLC acquired a new position in shares of Constellation Brands during the second quarter valued at $35,000. 71.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of STZ traded up $4.39 during midday trading on Friday, reaching $198.79. 955,600 shares of the stock were exchanged, compared to its average volume of 973,876. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $228.91. The firm has a 50 day simple moving average of $197.45 and a 200-day simple moving average of $188.44. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.94. The company has a market cap of $37.24 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 2.91 and a beta of 0.71.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, August 12th. Constellation Brands’s payout ratio is 32.33%.
A number of research analysts have recently commented on STZ shares. Evercore ISI set a $220.00 price target on Constellation Brands and gave the company a “buy” rating in a report on Friday, August 9th. Barclays reissued a “buy” rating and set a $238.00 price target on shares of Constellation Brands in a report on Tuesday, July 2nd. SunTrust Banks raised their price target on Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. Citigroup set a $210.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Monday, July 1st. Finally, Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $223.73.
In related news, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total value of $2,015,535.55. Following the transaction, the director now directly owns 27,630 shares of the company’s stock, valued at approximately $5,452,780.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO James A. Jr. Sabia sold 4,275 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $194.70, for a total value of $832,342.50. Following the completion of the transaction, the chief marketing officer now directly owns 43,494 shares in the company, valued at $8,468,281.80. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by company insiders.
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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