Constellation Brands, Inc. (STZ) Shares Bought by Caxton Associates LP
Caxton Associates LP increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 163.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,900 shares of the company’s stock after acquiring an additional 4,900 shares during the period. Caxton Associates LP’s holdings in Constellation Brands were worth $1,576,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Constellation Brands by 4,909.6% in the 2nd quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock valued at $219,829,000 after purchasing an additional 1,112,065 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Constellation Brands by 488.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock valued at $231,093,000 after purchasing an additional 990,152 shares during the period. Alliancebernstein L.P. boosted its position in shares of Constellation Brands by 87.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock valued at $325,751,000 after purchasing an additional 786,726 shares during the period. Farallon Capital Management LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $135,760,000. Finally, Numeric Investors LLC boosted its position in shares of Constellation Brands by 2,217.6% in the 2nd quarter. Numeric Investors LLC now owns 720,771 shares of the company’s stock valued at $139,635,000 after purchasing an additional 689,671 shares during the period. 75.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on STZ. Zacks Investment Research lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday. Susquehanna Bancshares reiterated a “neutral” rating and issued a $193.00 price target (up previously from $169.00) on shares of Constellation Brands in a research report on Monday, October 2nd. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. Citigroup reiterated a “neutral” rating and issued a $232.00 price target (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. Finally, Royal Bank Of Canada raised their price objective on Constellation Brands from $222.00 to $226.00 and gave the stock an “outperform” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $216.00.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.30. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. Constellation Brands had a return on equity of 26.16% and a net margin of 24.08%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 EPS. equities research analysts forecast that Constellation Brands, Inc. will post 8.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders 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 dividend yield of 0.95%. Constellation Brands’s dividend payout ratio is 23.85%.
In other 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas J. Mullin sold 50,000 shares of Constellation Brands stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,662 shares of company stock valued at $15,564,585. 15.59% of the stock is owned by corporate insiders.
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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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