Westfield Capital Management Co. LP Sells 46,180 Shares of Constellation Brands Inc (STZ)
Westfield Capital Management Co. LP cut its holdings in Constellation Brands Inc (NYSE:STZ) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,954 shares of the company’s stock after selling 46,180 shares during the period. Constellation Brands comprises about 1.3% of Westfield Capital Management Co. LP’s holdings, making the stock its 13th largest position. Westfield Capital Management Co. LP owned about 0.40% of Constellation Brands worth $149,744,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its position in shares of Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after buying an additional 193 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Constellation Brands in the 1st quarter valued at about $117,000. North Star Investment Management Corp. raised its stake in Constellation Brands by 11.6% in the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock valued at $145,000 after purchasing an additional 78 shares during the last quarter. Hanson McClain Inc. raised its stake in Constellation Brands by 0.3% in the 1st quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after purchasing an additional 2 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Constellation Brands by 609.1% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock valued at $151,000 after purchasing an additional 670 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.
STZ has been the subject of several analyst reports. BidaskClub downgraded shares of Constellation Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Royal Bank Of Canada reissued a “buy” rating on shares of Constellation Brands in a research note on Friday, June 16th. Stifel Nicolaus boosted their target price on shares of Constellation Brands from $201.00 to $216.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $198.00 target price (down previously from $200.00) on shares of Constellation Brands in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price for the company 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, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $202.00.
Constellation Brands Inc (STZ) traded down 0.48% on Friday, hitting $203.40. 1,398,954 shares of the stock were exchanged. The company has a market cap of $39.72 billion, a PE ratio of 25.51 and a beta of 0.03. The company’s 50-day moving average is $198.27 and its 200-day moving average is $182.34. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Zacks’ 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 analyst estimates of $1.95 billion. During the same period last year, the company posted $1.54 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Constellation Brands Inc will post $8.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a dividend of $0.52 per share. 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 payout ratio is presently 26.03%.
In other news, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total transaction of $2,465,849.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry A. Fromberg sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $195.93, for a total value of $391,860.00. Following the sale, the director now directly owns 22,820 shares of the company’s stock, valued at $4,471,122.60. 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 over the last 90 days. Corporate insiders own 15.59% of the company’s stock.
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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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