Constellation Brands Inc. (STZ) Shares Sold by Peddock Capital Advisors LLC
Peddock Capital Advisors LLC reduced its stake in shares of Constellation Brands Inc. (NYSE:STZ) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,250 shares of the company’s stock after selling 239 shares during the period. Constellation Brands comprises about 2.1% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 4th largest position. Peddock Capital Advisors LLC’s holdings in Constellation Brands were worth $3,371,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of STZ. Redwood Investments LLC acquired a new position in Constellation Brands during the second quarter valued at about $14,966,000. CIBC World Markets Inc. boosted its position in Constellation Brands by 42.4% in the second quarter. CIBC World Markets Inc. now owns 76,159 shares of the company’s stock valued at $12,597,000 after buying an additional 22,676 shares during the last quarter. Hilton Capital Management LLC boosted its position in Constellation Brands by 3.4% in the second quarter. Hilton Capital Management LLC now owns 74,930 shares of the company’s stock valued at $12,393,000 after buying an additional 2,437 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in Constellation Brands by 110.0% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 140,359 shares of the company’s stock valued at $23,215,000 after buying an additional 73,508 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Constellation Brands by 18.2% in the first quarter. Royal Bank of Canada now owns 266,963 shares of the company’s stock valued at $40,334,000 after buying an additional 41,143 shares during the last quarter. 73.53% of the stock is owned by institutional investors and hedge funds.
Constellation Brands Inc. (NYSE:STZ) traded down 0.30% during mid-day trading on Tuesday, hitting $155.80. The stock had a trading volume of 1,338,192 shares. Constellation Brands Inc. has a one year low of $130.23 and a one year high of $173.55. The firm’s 50-day moving average is $162.05 and its 200 day moving average is $162.03. The stock has a market cap of $31.33 billion, a PE ratio of 26.81 and a beta of 0.59.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The firm had revenue of $2.02 billion for the quarter. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. Equities research analysts expect that Constellation Brands Inc. will post $6.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were given a $0.40 dividend. The ex-dividend date was Friday, November 4th. This represents a $1.60 annualized dividend and a yield of 1.03%. Constellation Brands’s dividend payout ratio (DPR) is 27.49%.
Several research firms have issued reports on STZ. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday. Pivotal Research reiterated a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a research report on Thursday, October 6th. Citigroup Inc. reissued a “neutral” rating and set a $191.00 price target (up previously from $180.00) on shares of Constellation Brands in a research note on Sunday, October 9th. Morgan Stanley reissued an “overweight” rating and set a $194.00 price target (up previously from $191.00) on shares of Constellation Brands in a research note on Saturday, October 8th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $181.00 price target on shares of Constellation Brands in a research note on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $178.30.
About Constellation Brands
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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