Scharf Investments LLC decreased its position in Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 352,893 shares of the company's stock after selling 2,732 shares during the period. Constellation Brands accounts for 2.8% of Scharf Investments LLC's portfolio, making the stock its 18th largest position. Scharf Investments LLC owned 0.19% of Constellation Brands worth $82,245,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors lifted its stake in Constellation Brands by 28.7% in the fourth quarter. Capital World Investors now owns 8,810,424 shares of the company's stock valued at $2,211,152,000 after buying an additional 1,967,115 shares during the period. Norges Bank acquired a new position in Constellation Brands in the fourth quarter valued at about $371,552,000. Neuberger Berman Group LLC lifted its stake in Constellation Brands by 53.3% in the first quarter. Neuberger Berman Group LLC now owns 1,428,539 shares of the company's stock valued at $329,065,000 after buying an additional 496,542 shares during the period. Vanguard Group Inc. lifted its stake in Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company's stock valued at $2,902,327,000 after buying an additional 313,344 shares during the period. Finally, Carmignac Gestion lifted its stake in Constellation Brands by 101.0% in the first quarter. Carmignac Gestion now owns 444,379 shares of the company's stock valued at $102,351,000 after buying an additional 223,251 shares during the period. Institutional investors own 73.86% of the company's stock.
Get Constellation Brands alerts:Constellation Brands Stock Up 0.6 %
Constellation Brands stock traded up $1.40 during midday trading on Monday, reaching $232.66. The stock had a trading volume of 960,016 shares, compared to its average volume of 1,016,364. The firm's fifty day simple moving average is $245.17 and its 200-day simple moving average is $241.80. Constellation Brands, Inc. has a 1-year low of $207.59 and a 1-year high of $261.52. The stock has a market capitalization of $42.99 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 1.40.
Constellation Brands (NYSE:STZ – Get Rating) last announced its earnings results on Thursday, June 30th. The company reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.15. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm earned $2.33 EPS. Constellation Brands's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts expect that Constellation Brands, Inc. will post 11.09 EPS for the current fiscal year.Constellation Brands Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were paid a $0.80 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.38%. Constellation Brands's dividend payout ratio is 14.05%.
Insider Buying and Selling at Constellation Brands
In other Constellation Brands news, CFO Garth Hankinson sold 2,270 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $255.92, for a total value of $580,938.40. Following the completion of the transaction, the chief financial officer now directly owns 7,176 shares in the company, valued at $1,836,481.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 2,270 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $255.92, for a total value of $580,938.40. Following the completion of the transaction, the chief financial officer now directly owns 7,176 shares in the company, valued at $1,836,481.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of Constellation Brands stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $242.81, for a total value of $44,514,842.92. Following the transaction, the insider now owns 100 shares of the company's stock, valued at $24,281. The disclosure for this sale can be found here. Insiders sold a total of 1,619,248 shares of company stock worth $393,239,506 over the last ninety days. 16.19% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
STZ has been the topic of several analyst reports. Morgan Stanley increased their target price on Constellation Brands from $294.00 to $298.00 and gave the company an "overweight" rating in a research note on Tuesday, June 21st. UBS Group dropped their price target on Constellation Brands from $285.00 to $270.00 and set a "buy" rating on the stock in a research report on Tuesday, June 21st. JPMorgan Chase & Co. raised their price target on Constellation Brands from $263.00 to $287.00 and gave the stock an "overweight" rating in a research report on Thursday, September 15th. Credit Suisse Group dropped their price target on Constellation Brands from $295.00 to $292.00 and set an "outperform" rating on the stock in a research report on Friday, July 1st. Finally, Redburn Partners began coverage on Constellation Brands in a research report on Wednesday, July 13th. They set a "buy" rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $272.73.
Constellation Brands Company Profile
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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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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