Prudential Financial Inc. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 56.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,085 shares of the company's stock after purchasing an additional 80,719 shares during the period. Prudential Financial Inc. owned 0.12% of Constellation Brands worth $51,241,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Legacy CG LLC increased its holdings in shares of Constellation Brands by 57.3% in the third quarter. Legacy CG LLC now owns 13,535 shares of the company's stock valued at $3,109,000 after buying an additional 4,929 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in Constellation Brands by 0.9% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,287 shares of the company's stock valued at $1,214,000 after purchasing an additional 45 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of Constellation Brands by 3.6% in the third quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 2,133 shares of the company's stock valued at $490,000 after purchasing an additional 75 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of Constellation Brands by 63.8% in the third quarter. Ieq Capital LLC now owns 4,775 shares of the company's stock valued at $1,096,000 after purchasing an additional 1,860 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Constellation Brands by 8.9% in the third quarter. First Republic Investment Management Inc. now owns 448,332 shares of the company's stock valued at $102,973,000 after purchasing an additional 36,741 shares in the last quarter. Institutional investors own 84.87% of the company's stock.
Get Constellation Brands alerts:Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on STZ shares. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $267.00 to $250.00 and set an "overweight" rating for the company in a report on Friday, January 6th. Morgan Stanley reduced their target price on Constellation Brands from $298.00 to $277.00 and set an "overweight" rating for the company in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Constellation Brands from $249.00 to $245.00 and set a "hold" rating on the stock in a research note on Wednesday, December 21st. Argus dropped their price target on shares of Constellation Brands from $295.00 to $250.00 in a research note on Friday, January 6th. Finally, Sanford C. Bernstein upped their price target on shares of Constellation Brands to $275.00 in a research note on Thursday, October 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $252.63.
Constellation Brands Trading Up 1.6 %
Shares of NYSE:STZ opened at $227.50 on Wednesday. The company has a market cap of $41.99 billion, a P/E ratio of 650.02, a P/E/G ratio of 2.29 and a beta of 1.00. The stock's 50-day moving average is $236.60 and its 200-day moving average is $239.38. Constellation Brands, Inc. has a 52-week low of $207.59 and a 52-week high of $261.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.63 and a current ratio of 1.29.Constellation Brands (NYSE:STZ – Get Rating) last issued its quarterly earnings results on Thursday, January 5th. The company reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.05). The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.38 billion. Constellation Brands had a net margin of 0.98% and a return on equity of 19.69%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.12 earnings per share. Equities research analysts predict that Constellation Brands, Inc. will post 10.66 earnings per share for the current year.
Constellation Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, February 7th. Constellation Brands's dividend payout ratio is currently 914.31%.
Insider Activity
In related news, major shareholder 2015 Business Holdings Lp Rht sold 1,000,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $239.06, for a total value of $239,060,000.00. Following the completion of the sale, the insider now owns 350,000 shares in the company, valued at $83,671,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP James A. Jr. Sabia sold 4,165 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $250.23, for a total value of $1,042,207.95. Following the completion of the sale, the executive vice president now owns 27,102 shares in the company, valued at $6,781,733.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2015 Business Holdings Lp Rht sold 1,000,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $239.06, for a total transaction of $239,060,000.00. Following the completion of the sale, the insider now owns 350,000 shares of the company's stock, valued at approximately $83,671,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,705,145 shares of company stock valued at $1,124,869,978. 16.19% of the stock is owned by insiders.
Constellation Brands 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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