Pictet Asset Management SA decreased its holdings in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,012 shares of the company’s stock after selling 7,030 shares during the quarter. Pictet Asset Management SA’s holdings in Constellation Brands were worth $16,041,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of STZ. AXS Investments LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at $26,000. Zions Bancorporation N.A. increased its position in shares of Constellation Brands by 135.6% in the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at $34,000. Ridgewood Investments LLC purchased a new position in shares of Constellation Brands in the first quarter valued at $37,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Constellation Brands in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 86.49% of the company’s stock.
Insiders Place Their Bets
In other news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the completion of the sale, the chief executive officer now directly owns 9,316 shares in the company, valued at approximately $2,495,756.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the completion of the sale, the chief executive officer now directly owns 9,316 shares in the company, valued at approximately $2,495,756.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Garth Hankinson sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.96, for a total value of $415,338.00. Following the completion of the sale, the chief financial officer now owns 9,491 shares of the company’s stock, valued at $2,543,208.36. The disclosure for this sale can be found here. Insiders have sold 100,819 shares of company stock worth $27,054,755 in the last three months. 16.19% of the stock is owned by insiders.
Analysts Set New Price Targets
View Our Latest Stock Analysis on STZ
Constellation Brands Stock Performance
Shares of NYSE:STZ opened at $257.07 on Monday. The company has a market cap of $47.13 billion, a P/E ratio of -140.48, a PEG ratio of 1.93 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. Constellation Brands, Inc. has a one year low of $208.12 and a one year high of $273.65. The business’s 50-day simple moving average is $257.68 and its 200 day simple moving average is $237.57.
Constellation Brands (NYSE:STZ – Get Free Report) last posted its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.08. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $2.66 EPS. Constellation Brands’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 11.62 earnings per share for the current fiscal year.
Constellation Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.89 per share. The ex-dividend date is Wednesday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.38%. Constellation Brands’s dividend payout ratio is presently -194.54%.
About Constellation Brands
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.
Read More
- Five stocks we like better than Constellation Brands
- 3 Tickers Leading a Meme Stock Revival
- MarketBeat Week in Review – 8/14 – 8/18
- What Investors Need to Know to Beat the Market
- 8 Best Artificial Intelligence Stocks Under $10
- How to Invest in Apparel Stocks
- What Ross Stores Earnings Say About The Saver Shopping Economy
Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZ – Free Report).
Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.
