Constellation Brands Inc (STZ) Shares Sold by Northstar Asset Management LLC
Northstar Asset Management LLC cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 1.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,050 shares of the company’s stock after selling 100 shares during the period. Northstar Asset Management LLC’s holdings in Constellation Brands were worth $1,365,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock valued at $1,880,863,000 after buying an additional 11,264,949 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Constellation Brands during the first quarter valued at $132,686,000. Marshall Wace North America L.P. acquired a new stake in Constellation Brands during the first quarter valued at $132,686,000. OZ Management LP acquired a new stake in Constellation Brands during the first quarter valued at $121,982,000. Finally, Alliancebernstein L.P. boosted its stake in Constellation Brands by 203.6% in the first quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock valued at $145,011,000 after buying an additional 600,001 shares during the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc (NYSE STZ) traded up 0.41% during midday trading on Friday, hitting $197.88. The stock had a trading volume of 776,053 shares. The company’s 50 day moving average is $195.43 and its 200 day moving average is $176.14. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $199.89. The company has a market cap of $38.65 billion, a PE ratio of 24.82 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.36. The firm had revenue of $1.94 billion for 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 company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. On average, analysts anticipate that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.05%. Constellation Brands’s dividend payout ratio is 26.03%.
Several analysts have weighed in on STZ shares. Vetr cut Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target on the stock. 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 objective on the stock in a research report on Thursday, June 22nd. Argus increased their price objective on Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 5th. Wells Fargo & Company reiterated an “outperform” rating and set a $215.00 price objective (up from $205.00) on shares of Constellation Brands in a research report on Monday, July 3rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a $212.00 price objective (up from $198.00) on shares of Constellation Brands in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $200.53.
In related news, Director Barry A. Fromberg sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the transaction, the director now owns 22,820 shares of the company’s stock, valued at $4,471,122.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 23,827 shares of the 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 completion of the transaction, the vice president now directly owns 78,524 shares in the company, valued at approximately $15,205,387.36. The disclosure for this sale can be found here. In the last three months, insiders sold 95,601 shares of company stock worth $18,586,986. 15.59% of the stock is owned by 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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