USS Investment Management Ltd Maintains Stake in Constellation Brands Inc (STZ)
USS Investment Management Ltd held its position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent filing with the SEC. The firm owned 770,740 shares of the company’s stock at the end of the second quarter. Constellation Brands makes up about 1.4% of USS Investment Management Ltd’s portfolio, making the stock its 15th largest position. USS Investment Management Ltd owned 0.39% of Constellation Brands worth $149,323,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Hanson McClain Inc. boosted its position in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Concert Wealth Management Inc. boosted its stake in Constellation Brands by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,379 shares of the company’s stock worth $212,000 after buying an additional 10 shares during the last quarter. Financial Architects Inc boosted its stake in Constellation Brands by 1.4% in the second quarter. Financial Architects Inc now owns 1,776 shares of the company’s stock worth $344,000 after buying an additional 25 shares during the last quarter. Welch Group LLC boosted its stake in Constellation Brands by 2.9% in the second quarter. Welch Group LLC now owns 885 shares of the company’s stock worth $171,000 after buying an additional 25 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in Constellation Brands by 0.8% in the second quarter. LS Investment Advisors LLC now owns 4,958 shares of the company’s stock worth $961,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.
Constellation Brands Inc (NYSE STZ) traded up 0.73% on Friday, reaching $198.32. 689,197 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $195.94 and a 200-day moving average price of $177.85. The stock has a market capitalization of $38.73 billion, a price-to-earnings ratio of 24.87 and a beta of 0.06. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $199.89.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.36. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, analysts predict that Constellation Brands Inc will post $8.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $2.08 annualized dividend and a yield of 1.05%. Constellation Brands’s payout ratio is currently 26.03%.
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A number of equities research analysts have commented on the stock. J P Morgan Chase & Co restated an “overweight” rating and set a $220.00 target price (up previously from $188.00) on shares of Constellation Brands in a research note on Friday, June 30th. Vetr cut shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 target price on the stock. in a research note on Monday, May 22nd. UBS AG raised their target price on shares of Constellation Brands from $162.00 to $176.00 and gave the stock a “neutral” rating in a research note on Friday, June 30th. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 target price (up previously from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $200.53.
In related news, 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 value of $954,803.20. Following the completion of the transaction, the vice president now directly owns 8,914 shares in the company, valued at $1,722,897.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $2,465,849.00. The disclosure for this sale can be found here. Insiders sold 108,118 shares of company stock valued at $21,052,835 over the last quarter. Insiders own 15.59% of the company’s stock.
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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