Tocqueville Asset Management L.P. Holds Stake in Constellation Brands Inc (STZ)
Tocqueville Asset Management L.P. maintained its position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,025 shares of the company’s stock at the end of the second quarter. Tocqueville Asset Management L.P.’s holdings in Constellation Brands were worth $6,592,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Cadence Capital Management LLC boosted its position in shares of Constellation Brands by 1.7% in the second quarter. Cadence Capital Management LLC now owns 5,634 shares of the company’s stock worth $1,091,000 after buying an additional 93 shares during the period. Peddock Capital Advisors LLC boosted its position in shares of Constellation Brands by 5.3% in the second quarter. Peddock Capital Advisors LLC now owns 21,645 shares of the company’s stock worth $4,193,000 after buying an additional 1,086 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Constellation Brands by 1.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 251,013 shares of the company’s stock worth $48,629,000 after buying an additional 3,964 shares during the period. KBC Group NV boosted its position in shares of Constellation Brands by 95.9% in the second quarter. KBC Group NV now owns 58,421 shares of the company’s stock worth $11,317,000 after buying an additional 28,599 shares during the period. Finally, State of Wisconsin Investment Board boosted its position in shares of Constellation Brands by 9.9% in the second quarter. State of Wisconsin Investment Board now owns 225,823 shares of the company’s stock worth $43,749,000 after buying an additional 20,330 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.
Shares of Constellation Brands Inc (NYSE STZ) opened at 196.73 on Thursday. Constellation Brands Inc has a 1-year low of $144.00 and a 1-year high of $199.89. The stock has a market cap of $38.42 billion, a P/E ratio of 24.67 and a beta of 0.06. The firm’s 50-day moving average price is $195.73 and its 200 day moving average price is $177.36.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.98 by $0.36. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. Constellation Brands’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Constellation Brands Inc will post $8.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Monday, August 7th. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
A number of equities analysts have recently commented on the company. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Cowen and Company reiterated a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $220.00 target price on shares of Constellation Brands in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) lowered Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $212.00 to $210.00 in a research note on Monday, July 24th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $216.00 price target (up from $215.00) on shares of Constellation Brands in a research note on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $200.53.
In other Constellation Brands news, VP Thomas Michael Kane sold 4,940 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $193.28, for a total value of $954,803.20. Following the completion of the transaction, the vice president now owns 8,914 shares in the company, valued at approximately $1,722,897.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher Stenzel sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total transaction of $983,750.00. Following the completion of the transaction, the executive vice president now owns 39,721 shares of the company’s stock, valued at approximately $7,815,106.75. The disclosure for this sale can be found here. In 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 insiders.
Constellation Brands Company Profile
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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