Constellation Brands Inc (STZ) Shares Bought by Usca Ria LLC
Usca Ria LLC increased its stake in Constellation Brands Inc (NYSE:STZ) by 25.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,723 shares of the company’s stock after buying an additional 1,583 shares during the period. Usca Ria LLC’s holdings in Constellation Brands were worth $1,496,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of 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 bought a new stake in shares of Constellation Brands during the first quarter valued at about $132,686,000. Marshall Wace North America L.P. bought a new stake in shares of Constellation Brands during the first quarter valued at about $132,686,000. OZ Management LP bought a new stake in shares of Constellation Brands during the first quarter valued at about $121,982,000. Finally, Alliancebernstein L.P. raised its stake in shares of 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. Institutional investors own 74.99% of the company’s stock.
Constellation Brands Inc (STZ) opened at 198.32 on Friday. The firm has a 50-day moving average of $195.94 and a 200 day moving average of $177.85. Constellation Brands Inc has a one year low of $144.00 and a one year high of $199.89. The company has a market capitalization of $38.73 billion, a P/E ratio of 24.87 and a beta of 0.06.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, June 29th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Monday, August 7th. Constellation Brands’s payout ratio is 26.03%.
STZ has been the subject of several research analyst reports. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target for the company. in a research note on Tuesday, May 16th. Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a research note on Thursday, June 22nd. Argus lifted their price objective on shares of Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. Wells Fargo & Company reiterated an “outperform” rating and issued a $215.00 price objective (up from $205.00) on shares of Constellation Brands in a research note on Monday, July 3rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $212.00 price objective (up from $198.00) on shares of Constellation Brands in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $200.53.
In other news, EVP William F. Hackett sold 12,517 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total transaction of $2,465,849.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Michael Kane sold 4,940 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the sale, the vice president now directly owns 8,914 shares of the company’s stock, valued at approximately $1,722,897.92. The disclosure for this sale can be found here. Insiders have sold 108,118 shares of company stock valued at $21,052,835 in the last ninety days. Insiders own 15.59% of the company’s stock.
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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