Redwood Investments LLC Acquires New Position in Constellation Brands Inc. (STZ)
Redwood Investments LLC acquired a new position in shares of Constellation Brands Inc. (NYSE:STZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 90,483 shares of the company’s stock, valued at approximately $14,966,000.
Other large investors also recently made changes to their positions in the company. Invictus RG bought a new stake in shares of Constellation Brands during the first quarter worth about $110,000. Daiwa SB Investments Ltd. bought a new stake in shares of Constellation Brands during the second quarter worth about $134,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Constellation Brands during the first quarter worth about $165,000. Tompkins Financial Corp raised its stake in shares of 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 bought a new stake in shares of Constellation Brands during the second quarter worth about $203,000. 75.05% of the stock is owned by institutional investors and hedge funds.
Constellation Brands Inc. (NYSE:STZ) traded down 0.59% during trading on Monday, reaching $165.51. The company’s stock had a trading volume of 1,240,090 shares. Constellation Brands Inc. has a 1-year low of $129.60 and a 1-year high of $168.68. The stock has a 50 day moving average price of $165.21 and a 200 day moving average price of $159.65. The stock has a market capitalization of $33.19 billion, a PE ratio of 29.82 and a beta of 0.63.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, June 30th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.02. The company earned $1.87 billion during the quarter. Constellation Brands had a return on equity of 17.66% and a net margin of 15.53%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. Analysts anticipate that Constellation Brands Inc. will post $6.30 earnings per share for the current fiscal year.
STZ has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Constellation Brands in a report on Friday, July 15th. Wells Fargo & Co. reissued a “buy” rating on shares of Constellation Brands in a report on Thursday, June 30th. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a report on Friday, September 16th. Finally, RBC Capital Markets set a $181.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a report on Wednesday, September 28th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands has an average rating of “Buy” and an average price target of $175.27.
In other news, VP Thomas J. Mullin sold 30,000 shares of the stock in a transaction on Wednesday, July 6th. The stock was 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 in the company, valued at approximately $16,855,072.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David Eric Klein sold 14,300 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $166.27, for a total value of $2,377,661.00. Following the transaction, the chief financial officer now owns 36,152 shares of the company’s stock, valued at $6,010,993.04. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.
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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