MAI Capital Management raised its position in Constellation Brands, Inc. (NYSE:STZ) by 392.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,519 shares of the company’s stock after purchasing an additional 29,902 shares during the quarter. MAI Capital Management’s holdings in Constellation Brands were worth $6,578,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in shares of Constellation Brands by 210.9% in the first quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock worth $25,000 after acquiring an additional 97 shares in the last quarter. Truewealth LLC grew its stake in shares of Constellation Brands by 467.9% in the fourth quarter. Truewealth LLC now owns 159 shares of the company’s stock worth $26,000 after acquiring an additional 131 shares in the last quarter. City Holding Co. acquired a new position in shares of Constellation Brands in the fourth quarter worth $31,000. Ledyard National Bank acquired a new position in shares of Constellation Brands in the fourth quarter worth $31,000. Finally, We Are One Seven LLC acquired a new position in shares of Constellation Brands in the fourth quarter worth $32,000. 74.05% of the stock is currently owned by institutional investors.
In related news, EVP David Eric Klein sold 25,980 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the completion of the sale, the executive vice president now directly owns 69,852 shares of the company’s stock, valued at $13,876,798.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas Michael Kane sold 3,071 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $190.08, for a total transaction of $583,735.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,646 shares of company stock valued at $15,572,098. 15.80% of the stock is owned by corporate insiders.
Several equities analysts have commented on the stock. Deutsche Bank downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $191.00 to $194.00 in a research note on Friday, April 5th. Credit Suisse Group assumed coverage on shares of Constellation Brands in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $230.00 price target for the company. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Morgan Stanley upgraded shares of Constellation Brands to a “hold” rating in a research note on Friday, April 5th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Constellation Brands in a research note on Thursday, February 21st. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $223.13.
Shares of STZ stock traded down $0.03 on Wednesday, reaching $204.97. 828,872 shares of the stock were exchanged, compared to its average volume of 2,293,117. The company has a current ratio of 1.16, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. The company has a market cap of $38.98 billion, a P/E ratio of 22.09, a PEG ratio of 2.80 and a beta of 0.54. Constellation Brands, Inc. has a twelve month low of $150.37 and a twelve month high of $234.26.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 4th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 8.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.75 dividend. The ex-dividend date is Thursday, May 9th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. Constellation Brands’s payout ratio is 10.02%.
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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