Traders Buy Large Volume of Put Options on Constellation Brands (STZ)
Constellation Brands Inc (NYSE:STZ) saw some unusual options trading activity on Monday. Traders acquired 5,783 put options on the company. This represents an increase of 872% compared to the typical daily volume of 595 put options.
In other news, insider William A. Newlands sold 2,935 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $210.10, for a total value of $616,643.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $209.45, for a total transaction of $10,472,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,662 shares of company stock worth $15,564,585. 15.59% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised 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 last quarter. Valeo Financial Advisors LLC bought a new position in Constellation Brands during the 3rd quarter worth approximately $153,000. Hanson McClain Inc. raised 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 last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised 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 last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Constellation Brands during the 2nd quarter worth approximately $157,000. Hedge funds and other institutional investors own 75.04% of the company’s stock.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business earned $1.77 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. sell-side analysts forecast that Constellation Brands will post 8.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were issued a dividend of $0.52 per share. The ex-dividend date was Monday, November 6th. This represents a $2.08 annualized dividend and a yield of 0.96%. Constellation Brands’s payout ratio is 23.85%.
A number of equities research analysts have recently weighed in on STZ shares. Pivotal Research raised their price target on shares of Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Stifel Nicolaus raised their price target on shares of Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, October 6th. SunTrust Banks reiterated a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research report on Friday, October 6th. Royal Bank Of Canada reiterated a “buy” rating and set a $226.00 target price on shares of Constellation Brands in a research report on Sunday, November 12th. Finally, Susquehanna Bancshares set a $200.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $216.00.
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Constellation Brands Company 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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