Wright Investors Service Inc. Buys 1,975 Shares of Constellation Brands Inc (STZ)
Wright Investors Service Inc. boosted its position in shares of Constellation Brands Inc (NYSE:STZ) by 22.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,788 shares of the company’s stock after buying an additional 1,975 shares during the period. Wright Investors Service Inc.’s holdings in Constellation Brands were worth $2,090,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. Thrivent Financial for Lutherans raised its position in Constellation Brands by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,210 shares of the company’s stock valued at $952,000 after buying an additional 380 shares during the period. UBS Asset Management Americas Inc. raised its stake in Constellation Brands by 7.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 430,341 shares of the company’s stock valued at $65,976,000 after buying an additional 31,510 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Constellation Brands during the fourth quarter valued at $1,977,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Constellation Brands during the fourth quarter valued at $882,000. Finally, Highbridge Capital Management LLC raised its stake in Constellation Brands by 701.4% in the fourth quarter. Highbridge Capital Management LLC now owns 176,918 shares of the company’s stock valued at $27,125,000 after buying an additional 154,843 shares during the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc (NYSE:STZ) opened at 195.39 on Thursday. The company has a market cap of $38.16 billion, a P/E ratio of 24.51 and a beta of 0.06. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $199.89. The firm has a 50-day moving average of $192.99 and a 200-day moving average of $174.00.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results 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. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. Analysts predict that Constellation Brands Inc will post $8.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, August 7th. Constellation Brands’s payout ratio is currently 26.03%.
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STZ has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Constellation Brands from $204.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $198.00 price target (down from $200.00) on shares of Constellation Brands in a research report on Friday, June 23rd. BidaskClub raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Credit Suisse Group set a $203.00 price target on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Constellation Brands presently has an average rating of “Buy” and an average price target of $200.53.
In related news, VP Thomas J. Mullin sold 23,827 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the transaction, the vice president now owns 78,524 shares of the company’s stock, valued at approximately $15,205,387.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas Michael Kane sold 4,940 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $193.28, for a total value of $954,803.20. Following the transaction, the vice president now directly owns 8,914 shares in the company, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,601 shares of company stock valued at $18,586,986. 15.59% of the stock is owned by company insiders.
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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