Gerber Kawasaki Wealth & Investment Management reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,724 shares of the company’s stock after selling 2,448 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Constellation Brands were worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bank Hapoalim BM grew its position in Constellation Brands by 98.8% during the first quarter. Bank Hapoalim BM now owns 6,412 shares of the company’s stock worth $1,124,000 after buying an additional 3,187 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Constellation Brands by 5.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,822 shares of the company’s stock valued at $2,072,000 after purchasing an additional 607 shares during the last quarter. Alethea Capital Management LLC acquired a new stake in shares of Constellation Brands in the first quarter valued at approximately $430,000. Raymond James & Associates grew its position in shares of Constellation Brands by 105.3% in the first quarter. Raymond James & Associates now owns 165,188 shares of the company’s stock valued at $28,964,000 after purchasing an additional 84,711 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Constellation Brands by 31.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 75,745 shares of the company’s stock valued at $13,292,000 after purchasing an additional 18,174 shares during the last quarter. Institutional investors own 74.05% of the company’s stock.
NYSE STZ traded up $0.57 during mid-day trading on Thursday, reaching $205.90. 160,976 shares of the stock were exchanged, compared to its average volume of 2,357,694. Constellation Brands, Inc. has a 1-year low of $150.37 and a 1-year high of $234.26. The firm has a market cap of $39.40 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.75 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.12. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. Constellation Brands’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.90 earnings per share. As a group, equities analysts predict that Constellation Brands, Inc. will post 8.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio (DPR) is currently 10.02%.
STZ has been the topic of several research reports. Credit Suisse Group initiated coverage on shares of Constellation Brands in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $230.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $258.00 price target on shares of Constellation Brands in a research report on Wednesday, January 16th. Barclays set a $226.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Friday, April 5th. Atlantic Securities initiated coverage on shares of Constellation Brands in a research report on Monday, January 21st. They issued an “overweight” rating and a $227.00 price target on the stock. Finally, Morgan Stanley set a $233.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Thursday, February 14th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $223.13.
In other Constellation Brands news, VP Thomas Michael Kane sold 3,071 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $190.08, for a total transaction of $583,735.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Eric Klein sold 25,980 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the transaction, the executive vice president now directly owns 69,852 shares in the company, valued at approximately $13,876,798.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,551 shares of company stock worth $6,007,002. 15.80% of the stock is currently owned by insiders.
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About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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