DSAM Partners London Ltd Invests $21.66 Million in Constellation Brands Inc (STZ)
DSAM Partners London Ltd acquired a new position in Constellation Brands Inc (NYSE:STZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 111,798 shares of the company’s stock, valued at approximately $21,659,000. Constellation Brands comprises 3.9% of DSAM Partners London Ltd’s holdings, making the stock its 9th largest position. DSAM Partners London Ltd owned about 0.06% of Constellation Brands as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $391,000. DUPONT CAPITAL MANAGEMENT Corp raised its stake in shares of Constellation Brands by 922.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 75,984 shares of the company’s stock worth $12,315,000 after buying an additional 68,552 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $2,536,000. Wetherby Asset Management Inc. raised its stake in shares of Constellation Brands by 15.2% in the first quarter. Wetherby Asset Management Inc. now owns 1,989 shares of the company’s stock worth $322,000 after buying an additional 263 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Constellation Brands by 12.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,802 shares of the company’s stock worth $2,398,000 after buying an additional 1,637 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.
Constellation Brands Inc (NYSE STZ) opened at 197.88 on Tuesday. The firm has a market capitalization of $38.65 billion, a P/E ratio of 24.82 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 $195.94 and a 200 day moving average of $177.85.
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 consensus estimate of $1.98 by $0.36. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the business posted $1.54 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. On average, analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Monday, August 7th. Constellation Brands’s dividend payout ratio is presently 26.03%.
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A number of analysts have recently commented on STZ shares. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a research report on Tuesday, May 16th. BidaskClub lowered shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $204.00 price target on shares of Constellation Brands in a research report on Monday, June 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Constellation Brands in a research report on Friday, June 16th. Finally, Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $200.53.
In other news, Director Barry A. Fromberg sold 2,000 shares of Constellation Brands 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 completion of the transaction, the director now owns 22,820 shares in the company, valued at approximately $4,471,122.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP William F. Hackett sold 12,517 shares of Constellation Brands stock in a transaction that occurred on Wednesday, August 23rd. The stock was 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 have sold a total of 108,118 shares of company stock valued at $21,052,835 in the last 90 days. 15.59% of the stock is currently owned by company 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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