Miramar Capital LLC Has $3.88 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Miramar Capital LLC lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,923 shares of the company’s stock after purchasing an additional 289 shares during the period. Constellation Brands accounts for 2.6% of Miramar Capital LLC’s portfolio, making the stock its 22nd largest position. Miramar Capital LLC’s holdings in Constellation Brands were worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC boosted its stake in Constellation Brands by 31.9% in the second quarter. Berman Capital Advisors LLC now owns 219 shares of the company’s stock valued at $43,000 after acquiring an additional 53 shares during the last quarter. Sky Investment Group LLC boosted its stake in Constellation Brands by 0.6% in the second quarter. Sky Investment Group LLC now owns 9,618 shares of the company’s stock valued at $1,894,000 after acquiring an additional 55 shares during the last quarter. Grove Bank & Trust boosted its stake in Constellation Brands by 2.3% in the second quarter. Grove Bank & Trust now owns 2,413 shares of the company’s stock valued at $475,000 after acquiring an additional 55 shares during the last quarter. Ballentine Partners LLC boosted its stake in Constellation Brands by 5.8% in the third quarter. Ballentine Partners LLC now owns 1,178 shares of the company’s stock valued at $244,000 after acquiring an additional 65 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in Constellation Brands by 2.0% in the second quarter. Chicago Equity Partners LLC now owns 3,575 shares of the company’s stock valued at $704,000 after acquiring an additional 70 shares during the last quarter. 72.11% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on STZ shares. Argus raised their price objective on shares of Constellation Brands to $230.00 and gave the company a “buy” rating in a research note on Monday, October 7th. SunTrust Banks raised 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. TheStreet cut shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Thursday, October 3rd. BMO Capital Markets raised their price objective on shares of Constellation Brands from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Finally, OTR Global raised shares of Constellation Brands to a “positive” rating in a research report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $223.76.

In related news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total value of $19,540,730.97. Following the sale, the insider now directly owns 173,379 shares of the company’s stock, valued at approximately $35,468,142.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.86% of the company’s stock.

Shares of NYSE STZ traded up $1.98 during midday trading on Tuesday, reaching $196.56. 25,229 shares of the stock were exchanged, compared to its average volume of 1,310,744. The business has a 50-day simple moving average of $201.45 and a two-hundred day simple moving average of $197.98. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 2.95 and a beta of 0.69. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $227.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.61 and a quick ratio of 1.01.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.12. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $2.87 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 8.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.00 annualized dividend and a yield of 1.53%. Constellation Brands’s dividend payout ratio is currently 32.33%.

Constellation Brands Company 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.

See Also: Exchange-Traded Funds (ETFs)

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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