Constellation Brands Inc (STZ) Position Trimmed by Maverick Capital Ltd.
Maverick Capital Ltd. reduced its position in Constellation Brands Inc (NYSE:STZ) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 698,310 shares of the company’s stock after selling 71,393 shares during the period. Constellation Brands comprises 1.7% of Maverick Capital Ltd.’s holdings, making the stock its 23rd largest position. Maverick Capital Ltd. owned about 0.36% of Constellation Brands worth $135,284,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in Constellation Brands by 50.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after acquiring an additional 193 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Constellation Brands during the first quarter worth approximately $117,000. North Star Investment Management Corp. increased its holdings in shares of Constellation Brands by 11.6% during the second quarter. North Star Investment Management Corp. now owns 748 shares of the company’s stock worth $145,000 after purchasing an additional 78 shares during the period. Hanson McClain Inc. increased its holdings in shares of Constellation Brands by 0.4% during the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock worth $149,000 after purchasing an additional 3 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Constellation Brands by 609.1% during the second 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 period. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
Constellation Brands Inc (NYSE:STZ) traded up 0.56% on Friday, reaching $208.56. 1,011,937 shares of the company traded hands. The company has a market capitalization of $40.80 billion, a PE ratio of 23.96 and a beta of 0.04. The stock’s 50 day moving average price is $202.64 and its 200 day moving average price is $188.51. Constellation Brands Inc has a one year low of $144.00 and a one year high of $213.40.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 5th. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.30. Constellation Brands had a return on equity of 22.81% and a net margin of 21.47%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm posted $1.77 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands Inc will post $8.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Monday, November 6th. Constellation Brands’s dividend payout ratio (DPR) is presently 23.85%.
STZ has been the topic of several analyst reports. J P Morgan Chase & Co reiterated an “overweight” rating and set a $237.00 price target (up previously from $220.00) on shares of Constellation Brands in a research report on Friday, October 6th. Citigroup Inc. restated a “neutral” rating and issued a $232.00 target price (up previously from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. Susquehanna Bancshares Inc set a $200.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research report on Thursday, October 5th. Stifel Nicolaus raised their target price on shares of Constellation Brands from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, October 6th. Finally, Morgan Stanley raised their target price on shares of Constellation Brands from $218.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has a consensus rating of “Buy” and an average price target of $216.00.
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In related news, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total transaction of $2,465,849.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,786 shares of company stock valued at $15,251,456 over the last three months. Corporate insiders own 15.59% of the company’s stock.
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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