Retirement Systems of Alabama Increases Stake in Constellation Brands Inc. (STZ)
Retirement Systems of Alabama raised its position in Constellation Brands Inc. (NYSE:STZ) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,936 shares of the company’s stock after buying an additional 724 shares during the period. Retirement Systems of Alabama’s holdings in Constellation Brands were worth $14,875,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invictus RG acquired a new position in Constellation Brands during the first quarter worth $110,000. Daiwa SB Investments Ltd. acquired a new position in Constellation Brands during the second quarter worth $134,000. NN Investment Partners Holdings N.V. acquired a new position in Constellation Brands during the first quarter worth $165,000. Tompkins Financial Corp raised its position in Constellation Brands by 44.2% in the second quarter. Tompkins Financial Corp now owns 1,110 shares of the company’s stock worth $184,000 after buying an additional 340 shares during the period. Finally, Atria Investments LLC acquired a new position in Constellation Brands during the second quarter worth $203,000. 75.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Constellation Brands Inc. (NYSE:STZ) traded up 1.72% during midday trading on Friday, reaching $166.49. 1,659,720 shares of the company were exchanged. The company has a market capitalization of $33.38 billion, a PE ratio of 30.00 and a beta of 0.72. Constellation Brands Inc. has a 52-week low of $129.60 and a 52-week high of $168.68. The stock’s 50-day moving average price is $165.21 and its 200-day moving average price is $159.65.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, June 30th. The company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.02. The business earned $1.87 billion during the quarter. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. Constellation Brands’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. Analysts anticipate that Constellation Brands Inc. will post $6.30 EPS for the current year.
STZ has been the topic of a number of research reports. Morgan Stanley reissued a “buy” rating on shares of Constellation Brands in a research note on Thursday, September 15th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. Wells Fargo & Co. restated a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a report on Friday, September 16th. Finally, RBC Capital Markets set a $181.00 price target on shares of Constellation Brands and gave the stock a “buy” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Constellation Brands presently has an average rating of “Buy” and a consensus price target of $175.27.
In other Constellation Brands news, VP Thomas J. Mullin sold 30,000 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $165.73, for a total transaction of $4,971,900.00. Following the completion of the transaction, the vice president now directly owns 101,702 shares of the company’s stock, valued at approximately $16,855,072.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William F. Hackett sold 8,000 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total transaction of $1,317,360.00. Following the transaction, the executive vice president now directly owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The disclosure for this sale can be found here. Corporate insiders own 10.63% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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