Martingale Asset Management L P Has $8.61 Million Holdings in Constellation Brands Inc (STZ)
Martingale Asset Management L P lowered its position in shares of Constellation Brands Inc (NYSE:STZ) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,459 shares of the company’s stock after selling 5,500 shares during the period. Martingale Asset Management L P’s holdings in Constellation Brands were worth $8,614,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in STZ. BlackRock Inc. raised its holdings in Constellation Brands by 3,310.4% in the 1st quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock worth $1,880,863,000 after purchasing an additional 11,264,949 shares in the last quarter. State Street Corp raised its holdings in Constellation Brands by 0.5% in the 1st quarter. State Street Corp now owns 7,391,582 shares of the company’s stock worth $1,197,945,000 after purchasing an additional 39,246 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Constellation Brands by 9.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,578,259 shares of the company’s stock worth $741,999,000 after purchasing an additional 378,620 shares in the last quarter. Egerton Capital UK LLP raised its holdings in Constellation Brands by 9.3% in the 2nd quarter. Egerton Capital UK LLP now owns 2,717,567 shares of the company’s stock worth $526,474,000 after purchasing an additional 231,984 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Constellation Brands by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,045,867 shares of the company’s stock worth $331,574,000 after purchasing an additional 71,963 shares in the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.
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In other Constellation Brands news, EVP William F. Hackett sold 12,517 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $197.00, for a total value of $2,465,849.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas Michael Kane sold 4,940 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $193.28, for a total transaction of $954,803.20. Following the completion of the transaction, the vice president now owns 8,914 shares of the company’s stock, valued at $1,722,897.92. 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. 15.59% of the stock is currently owned by corporate insiders.
Constellation Brands Inc (NYSE STZ) opened at 203.70 on Tuesday. The company has a market capitalization of $39.78 billion, a price-to-earnings ratio of 25.55 and a beta of 0.03. The company has a 50 day moving average of $196.96 and a 200 day moving average of $181.20. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $204.47.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, June 29th. The company reported $2.34 earnings per share 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 company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. The firm’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 $8.18 EPS 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 issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. Constellation Brands’s dividend payout ratio is presently 26.03%.
Several research analysts have commented on the stock. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, August 18th. Cowen and Company restated a “buy” rating and issued a $230.00 price objective on shares of Constellation Brands in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $220.00 price objective on shares of Constellation Brands in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) lowered shares of Constellation Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $212.00 to $210.00 in a report on Monday, July 24th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $216.00 price objective (up from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $200.53.
Constellation Brands 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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