Proficio Capital Partners LLC purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 81,151 shares of the company’s stock, valued at approximately $81,000.
Other institutional investors have also recently bought and sold shares of the company. AXS Investments LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $26,000. Baystate Wealth Management LLC raised its stake in Constellation Brands by 80.0% during the fourth quarter. Baystate Wealth Management LLC now owns 135 shares of the company’s stock worth $31,000 after acquiring an additional 60 shares in the last quarter. Zions Bancorporation N.A. raised its stake in Constellation Brands by 135.6% during the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Constellation Brands during the fourth quarter valued at $34,000. Finally, MV Capital Management Inc. boosted its stake in shares of Constellation Brands by 46.2% in the 4th quarter. MV Capital Management Inc. now owns 152 shares of the company’s stock valued at $35,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 86.49% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Wedbush boosted their price target on shares of Constellation Brands from $270.00 to $275.00 in a research report on Monday. TheStreet upgraded Constellation Brands from a “c+” rating to a “b-” rating in a research report on Friday, June 16th. Roth Mkm lifted their price objective on Constellation Brands from $270.00 to $284.00 and gave the company a “buy” rating in a research report on Monday. UBS Group boosted their price objective on Constellation Brands from $267.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, April 10th. Finally, Roth Capital upgraded Constellation Brands from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.00.
Constellation Brands Stock Performance
Constellation Brands (NYSE:STZ – Free Report) last issued its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.08. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.66 earnings per share. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 11.76 EPS for the current year.
Constellation Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.89 per share. The ex-dividend date is Wednesday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.44%. Constellation Brands’s payout ratio is presently -194.54%.
Insider Transactions at Constellation Brands
In other Constellation Brands news, Director Richard Sands sold 3,858,476 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $223.53, for a total transaction of $862,485,140.28. Following the transaction, the director now owns 20,488,818 shares in the company, valued at approximately $4,579,865,487.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Richard Sands sold 3,858,476 shares of Constellation Brands stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $223.53, for a total value of $862,485,140.28. Following the transaction, the director now owns 20,488,818 shares in the company, valued at approximately $4,579,865,487.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Business Holdings Lp Ajb sold 650,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $223.53, for a total value of $145,294,500.00. Following the sale, the insider now owns 3,365,715 shares of the company’s stock, valued at $752,338,273.95. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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