Scopus Asset Management L.P. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 32.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 375,000 shares of the company’s stock after selling 180,000 shares during the period. Constellation Brands makes up approximately 1.1% of Scopus Asset Management L.P.’s holdings, making the stock its 14th biggest position. Scopus Asset Management L.P. owned 0.19% of Constellation Brands worth $85,500,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Glassman Wealth Services grew its stake in shares of Constellation Brands by 120.4% during the first quarter. Glassman Wealth Services now owns 108 shares of the company’s stock valued at $25,000 after purchasing an additional 59 shares during the last quarter. Fieldpoint Private Securities LLC increased its position in shares of Constellation Brands by 686.7% during the first quarter. Fieldpoint Private Securities LLC now owns 118 shares of the company’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Private Ocean LLC purchased a new position in Constellation Brands during the first quarter worth about $29,000. CVA Family Office LLC boosted its position in Constellation Brands by 3,150.0% during the first quarter. CVA Family Office LLC now owns 130 shares of the company’s stock valued at $30,000 after buying an additional 126 shares during the period. Finally, Safeguard Investment Advisory Group LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $33,000. 70.68% of the stock is owned by institutional investors and hedge funds.
NYSE STZ traded down $2.22 on Thursday, reaching $223.63. The company had a trading volume of 13,624 shares, compared to its average volume of 927,423. The company has a quick ratio of 0.94, a current ratio of 1.61 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average is $232.05. The firm has a market capitalization of $42.96 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 3.71 and a beta of 1.20. Constellation Brands, Inc. has a 1 year low of $160.63 and a 1 year high of $244.75.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 24th. Stockholders of record on Tuesday, August 10th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, August 9th. Constellation Brands’s dividend payout ratio is currently 30.49%.
Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $223.00 to $242.00 and gave the company a “hold” rating in a research report on Thursday, July 1st. Credit Suisse Group lifted their price objective on Constellation Brands from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, July 1st. Morgan Stanley increased their target price on Constellation Brands from $260.00 to $266.00 and gave the stock an “overweight” rating in a report on Thursday, July 1st. Evercore ISI reaffirmed a “buy” rating on shares of Constellation Brands in a report on Sunday, June 6th. Finally, Wolfe Research initiated coverage on shares of Constellation Brands in a research report on Monday, April 19th. They issued an “outperform” rating and a $265.00 price target on the stock. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and a consensus price target of $256.43.
In other Constellation Brands news, CEO William A. Newlands sold 27,327 shares of the business’s stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $239.19, for a total transaction of $6,536,345.13. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James A. Jr. Sabia sold 12,120 shares of the business’s stock in a transaction dated Tuesday, May 25th. The stock was sold at an average price of $239.05, for a total transaction of $2,897,286.00. Following the sale, the director now directly owns 58,044 shares of the company’s stock, valued at approximately $13,875,418.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,999 shares of company stock worth $11,986,684. Corporate insiders own 15.77% of the company’s stock.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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