Roanoke Asset Management Corp NY increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,450 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Constellation Brands were worth $286,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in STZ. Versant Capital Management Inc increased its stake in Constellation Brands by 210.9% in the 1st quarter. Versant Capital Management Inc now owns 143 shares of the company’s stock valued at $25,000 after buying an additional 97 shares during the period. Mosaic Family Wealth LLC acquired a new position in Constellation Brands in the 1st quarter valued at $27,000. Bay Harbor Wealth Management LLC acquired a new position in Constellation Brands in the 1st quarter valued at $33,000. Gradient Investments LLC increased its stake in Constellation Brands by 265.3% in the 2nd quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after buying an additional 130 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Constellation Brands by 74.4% in the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock valued at $37,000 after buying an additional 90 shares during the period. 70.55% of the stock is currently owned by institutional investors and hedge funds.
In related news, Vice Chairman Richard Sands sold 23,984 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $206.47, for a total value of $4,951,976.48. Following the sale, the insider now directly owns 173,860 shares in the company, valued at approximately $35,896,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Sands sold 23,611 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $206.48, for a total transaction of $4,875,199.28. Following the completion of the sale, the chairman now owns 570,857 shares in the company, valued at $117,870,553.36. The disclosure for this sale can be found here. Insiders sold a total of 62,083 shares of company stock worth $12,675,054 over the last quarter. Insiders own 15.86% of the company’s stock.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, June 28th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.06 by $0.15. Constellation Brands had a net margin of 27.38% and a return on equity of 14.98%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the firm earned $2.20 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts expect that Constellation Brands, Inc. will post 8.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be given a $0.75 dividend. The ex-dividend date is Monday, August 12th. This represents a $3.00 annualized dividend and a dividend yield of 1.49%. Constellation Brands’s dividend payout ratio is presently 32.33%.
STZ has been the topic of several recent research reports. Macquarie set a $220.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a research note on Wednesday, June 5th. Bank of America set a $221.00 price objective on shares of Constellation Brands and gave the company a “buy” rating in a research note on Monday, July 1st. Citigroup set a $210.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a research note on Monday, July 1st. SunTrust Banks boosted their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Finally, Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $225.35.
Constellation Brands Profile
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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