Logan Capital Management Inc. Has $15.73 Million Stake in Constellation Brands Inc (STZ)
Logan Capital Management Inc. trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,216 shares of the company’s stock after selling 1,579 shares during the period. Constellation Brands accounts for 1.2% of Logan Capital Management Inc.’s holdings, making the stock its 29th largest position. Logan Capital Management Inc.’s holdings in Constellation Brands were worth $15,734,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DSAM Partners London Ltd bought a new stake in shares of Constellation Brands in the second quarter valued at approximately $21,659,000. Brighton Jones LLC bought a new position in Constellation Brands during the 2nd quarter worth $245,000. Cipher Capital LP bought a new position in Constellation Brands during the 2nd quarter worth $7,833,000. Oak Ridge Investments LLC increased its stake in Constellation Brands by 24.4% during the 2nd quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock worth $6,956,000 after acquiring an additional 7,052 shares during the period. Finally, United Capital Financial Advisers LLC increased its stake in Constellation Brands by 9.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 9,113 shares of the company’s stock worth $1,477,000 after acquiring an additional 797 shares during the period. Institutional investors own 74.96% of the company’s stock.
In related 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 value of $2,465,849.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 23,827 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $193.64, for a total transaction of $4,613,860.28. Following the completion of the transaction, the vice president now owns 78,524 shares of the company’s stock, valued at $15,205,387.36. The disclosure for this sale can be found here. Insiders sold a total of 108,118 shares of company stock worth $21,052,835 in the last three months. Insiders own 15.59% of the company’s stock.
Shares of Constellation Brands Inc (STZ) traded up 0.533% on Monday, hitting $200.513. 514,196 shares of the stock traded hands. The stock has a 50-day moving average price of $198.80 and a 200 day moving average price of $183.32. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $205.12. The firm has a market cap of $39.16 billion, a P/E ratio of 25.149 and a beta of 0.04.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results 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 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 analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the company earned $1.54 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Constellation Brands Inc will post $8.18 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Constellation Brands in a report on Friday, June 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $198.00 target price (down from $200.00) on shares of Constellation Brands in a report on Friday, June 23rd. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a report on Thursday, June 22nd. Stifel Nicolaus raised their price target on Constellation Brands from $201.00 to $216.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, BidaskClub cut Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $203.94.
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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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