Gerber Kawasaki Wealth & Investment Management lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 60.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,828 shares of the company’s stock after selling 2,748 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Constellation Brands were worth $295,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Intrust Bank NA increased its stake in Constellation Brands by 1.8% in the third quarter. Intrust Bank NA now owns 4,146 shares of the company’s stock worth $690,000 after buying an additional 73 shares during the period. JPMorgan Chase & Co. increased its position in shares of Constellation Brands by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,100,732 shares of the company’s stock worth $683,228,000 after buying an additional 292,181 shares during the last quarter. Redwood Investments LLC increased its position in shares of Constellation Brands by 4.5% in the third quarter. Redwood Investments LLC now owns 94,573 shares of the company’s stock worth $15,745,000 after buying an additional 4,090 shares during the last quarter. Egerton Capital UK LLP increased its position in shares of Constellation Brands by 21.6% in the third quarter. Egerton Capital UK LLP now owns 2,247,175 shares of the company’s stock worth $374,132,000 after buying an additional 399,874 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC bought a new position in shares of Constellation Brands during the third quarter worth about $14,098,000. Institutional investors and hedge funds own 76.77% of the company’s stock.
Shares of Constellation Brands, Inc. (NYSE STZ) opened at 180.30 on Friday. The stock has a market capitalization of $35.12 billion, a PE ratio of 23.98 and a beta of 0.31. The company’s 50 day moving average price is $179.84 and its 200 day moving average price is $162.99. Constellation Brands, Inc. has a 12 month low of $144.00 and a 12 month high of $186.55.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Constellation Brands had a return on equity of 26.07% and a net margin of 28.37%. Constellation Brands’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Equities analysts anticipate that Constellation Brands, Inc. will post $7.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, May 8th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a yield of 1.15%. Constellation Brands’s payout ratio is currently 27.59%.
A number of brokerages have issued reports on STZ. Susquehanna Bancshares Inc set a $147.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Saturday, February 25th. Credit Suisse Group set a $182.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Saturday, April 8th. Vetr downgraded Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price target for the company. in a report on Tuesday, May 16th. Stifel Nicolaus boosted their price target on Constellation Brands from $189.00 to $201.00 and gave the company a “buy” rating in a report on Monday, April 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $204.00 price target on shares of Constellation Brands in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Constellation Brands currently has an average rating of “Buy” and a consensus target price of $184.80.
In other Constellation Brands news, VP Thomas J. Mullin sold 39,854 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $169.55, for a total transaction of $6,757,245.70. Following the completion of the transaction, the vice president now owns 48,900 shares of the company’s stock, valued at $8,290,995. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry A. Fromberg sold 700 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $170.03, for a total value of $119,021.00. Following the transaction, the director now directly owns 21,520 shares of the company’s stock, valued at approximately $3,659,045.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,244 shares of company stock valued at $10,445,048. 10.63% of the stock is currently owned by insiders.
Constellation Brands Company Profile
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.
Receive News & Stock Ratings for Constellation Brands Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Constellation Brands Inc. and related stocks with our FREE daily email newsletter.