Constellation Brands Sees Unusually High Options Volume (STZ)
Constellation Brands Inc (NYSE:STZ) was the target of some unusual options trading activity on Wednesday. Stock investors bought 8,867 put options on the company. This is an increase of approximately 667% compared to the average volume of 1,156 put options.
In other news, EVP William F. Hackett sold 12,517 shares of the firm’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 filing with the SEC, which is accessible through this link. Also, VP Thomas J. Mullin sold 54,834 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the completion of the transaction, the vice president now directly owns 86,005 shares in the company, valued at approximately $16,727,972.50. The disclosure for this sale can be found here. In the last three months, insiders sold 79,351 shares of company stock worth $15,484,172. Insiders own 15.59% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in STZ. UBS Asset Management Americas Inc. increased its holdings in Constellation Brands by 8.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 467,139 shares of the company’s stock valued at $75,709,000 after buying an additional 36,798 shares during the period. Nordea Investment Management AB increased its holdings in Constellation Brands by 15.2% in the 1st quarter. Nordea Investment Management AB now owns 8,626 shares of the company’s stock valued at $1,398,000 after buying an additional 1,137 shares during the period. Glenview Trust Co increased its holdings in Constellation Brands by 9.6% in the 1st quarter. Glenview Trust Co now owns 37,024 shares of the company’s stock valued at $6,000,000 after buying an additional 3,246 shares during the period. Schroder Investment Management Group bought a new stake in Constellation Brands in the 1st quarter valued at $306,000. Finally, Blair William & Co. IL increased its holdings in Constellation Brands by 36.4% in the 1st quarter. Blair William & Co. IL now owns 11,343 shares of the company’s stock valued at $1,805,000 after buying an additional 3,024 shares during the period. Hedge funds and other institutional investors own 74.96% of the company’s stock.
Constellation Brands (STZ) opened at 210.11 on Friday. The firm has a market capitalization of $41.03 billion, a price-to-earnings ratio of 26.35 and a beta of 0.04. Constellation Brands has a one year low of $144.00 and a one year high of $213.40. The firm’s 50-day moving average is $201.11 and its 200 day moving average is $186.94.
Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Constellation Brands had a net margin of 19.94% and a return on equity of 21.57%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. Analysts forecast that Constellation Brands will post $8.18 EPS for the current fiscal year.
A number of equities analysts have recently commented on the stock. Argus raised their target price on shares of Constellation Brands from $194.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 5th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research note on Friday. Evercore ISI reissued an “outperform” rating and issued a $235.00 target price (up previously from $230.00) on shares of Constellation Brands in a research note on Friday. Pivotal Research raised their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price (up previously from $205.00) on shares of Constellation Brands in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $213.84.
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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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