Constellation Brands Inc (STZ) Shares Bought by Toronto Dominion Bank
Toronto Dominion Bank increased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 12.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 65,188 shares of the company’s stock after acquiring an additional 7,086 shares during the period. Toronto Dominion Bank’s holdings in Constellation Brands were worth $13,000,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its holdings in Constellation Brands by 50.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after purchasing an additional 193 shares during the period. North Star Investment Management Corp. increased its holdings in Constellation Brands by 11.6% during the 2nd quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after purchasing an additional 78 shares during the period. Hanson McClain Inc. increased its holdings in Constellation Brands by 0.4% during the 2nd quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after purchasing an additional 3 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Constellation Brands by 609.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 780 shares of the company’s stock worth $151,000 after purchasing an additional 670 shares during the period. Finally, Acrospire Investment Management LLC increased its holdings in Constellation Brands by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $155,000 after purchasing an additional 400 shares during the period. 74.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Constellation Brands Inc (STZ) traded down $0.98 during mid-day trading on Wednesday, reaching $217.11. The company had a trading volume of 339,557 shares, compared to its average volume of 1,484,449. Constellation Brands Inc has a 1 year low of $144.00 and a 1 year high of $221.50. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The stock has a market cap of $42,670.00, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.10.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 5th. The company reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. sell-side analysts predict that Constellation Brands Inc will post 8.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a yield of 0.96%. Constellation Brands’s dividend payout ratio is currently 26.60%.
Several research firms have commented on STZ. SunTrust Banks, Inc. restated a “buy” rating and set a $230.00 price objective on shares of Constellation Brands in a report on Friday, October 6th. Evercore ISI restated an “outperform” rating and set a $235.00 price objective (up from $230.00) on shares of Constellation Brands in a report on Friday, October 6th. Pivotal Research raised their price objective on Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. BidaskClub downgraded Constellation Brands from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Morgan Stanley raised their price objective on Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands presently has an average rating of “Buy” and an average target price of $216.00.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,500 shares of Constellation Brands stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $208.00, for a total transaction of $520,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total value of $3,955,441.27. Following the sale, the vice president now directly owns 72,924 shares of the company’s stock, valued at approximately $15,825,237.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,179 shares of company stock valued at $18,030,434. 15.59% of the stock is currently owned by insiders.
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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