Thomas J. Mullin Sells 23,827 Shares of Constellation Brands Inc (NYSE:STZ) Stock
Constellation Brands Inc (NYSE:STZ) VP Thomas J. Mullin sold 23,827 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total value of $4,613,860.28. Following the transaction, the vice president now directly owns 78,524 shares in the company, valued at $15,205,387.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Constellation Brands Inc (STZ) traded up 0.40% on Friday, hitting $193.82. The stock had a trading volume of 744,105 shares. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $199.89. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 24.31 and a beta of 0.06. The firm has a 50-day moving average of $190.79 and a 200 day moving average of $172.44.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. Constellation Brands’s revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.07%. The ex-dividend date is Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.
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Hedge funds have recently added to or reduced their stakes in the stock. Hillman Co. raised its stake in Constellation Brands by 27.1% in the first quarter. Hillman Co. now owns 183,470 shares of the company’s stock valued at $29,735,000 after buying an additional 39,122 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in Constellation Brands by 9.6% in the first quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock valued at $1,477,000 after buying an additional 797 shares in the last quarter. Rathbone Brothers plc raised its stake in Constellation Brands by 1.4% in the first quarter. Rathbone Brothers plc now owns 12,800 shares of the company’s stock valued at $2,074,000 after buying an additional 180 shares in the last quarter. Coconut Grove Bank raised its stake in Constellation Brands by 106.8% in the first quarter. Coconut Grove Bank now owns 887 shares of the company’s stock valued at $144,000 after buying an additional 458 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Constellation Brands by 8.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 601,095 shares of the company’s stock valued at $97,419,000 after buying an additional 46,985 shares in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. Vetr downgraded Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target for the company. in a report on Tuesday, May 16th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price target for the company in a report on Thursday, June 22nd. Argus upped their price target on Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) upgraded Constellation Brands from a “buy” rating to a “conviction-buy” rating and decreased their price target for the stock from $200.00 to $168.95 in a report on Monday, April 17th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $215.00 price target (up previously from $205.00) on shares of Constellation Brands in a report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $200.53.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. 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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