Cetera Investment Advisers lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,613 shares of the company’s stock after purchasing an additional 765 shares during the period. Cetera Investment Advisers’ holdings in Constellation Brands were worth $923,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Janus Henderson Group PLC raised its stake in Constellation Brands by 4,909.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock worth $219,829,000 after acquiring an additional 1,112,065 shares during the period. The Manufacturers Life Insurance Company raised its stake in Constellation Brands by 488.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after acquiring an additional 990,152 shares during the period. Alliancebernstein L.P. raised its stake in Constellation Brands by 87.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after acquiring an additional 786,726 shares during the period. Farallon Capital Management LLC bought a new stake in Constellation Brands during the 2nd quarter worth approximately $135,760,000. Finally, Numeric Investors LLC raised its stake in Constellation Brands by 2,217.6% during the 2nd quarter. Numeric Investors LLC now owns 720,771 shares of the company’s stock worth $139,635,000 after acquiring an additional 689,671 shares during the period. Hedge funds and other institutional investors own 75.04% of the company’s stock.
In related news, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total value of $520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 18,227 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the transaction, the vice president now directly owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,662 shares of company stock valued at $15,564,585. Insiders own 15.59% of the company’s stock.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the firm posted $1.77 EPS. The company’s revenue was up 3.1% on a year-over-year basis. equities research analysts expect that Constellation Brands, Inc. will post 8.43 EPS for the current year.
The business also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is currently 10.67%.
A number of equities research analysts have commented on the stock. SunTrust Banks restated a “buy” rating and set a $230.00 target price on shares of Constellation Brands in a research note on Friday, October 6th. Evercore ISI restated an “outperform” rating and set a $235.00 target price (up previously from $230.00) on shares of Constellation Brands in a research note on Friday, October 6th. Pivotal Research raised their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Morgan Stanley raised their target price on shares of Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, October 6th. Finally, Citigroup restated a “neutral” rating and set a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $216.00.
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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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