Westfield Capital Management Co. LP Acquires 117,512 Shares of Constellation Brands Inc (STZ)
Westfield Capital Management Co. LP raised its stake in Constellation Brands Inc (NYSE:STZ) by 16.7% during the first quarter, Holdings Channel reports. The firm owned 819,134 shares of the company’s stock after buying an additional 117,512 shares during the period. Constellation Brands makes up about 1.1% of Westfield Capital Management Co. LP’s portfolio, making the stock its 17th largest position. Westfield Capital Management Co. LP owned approximately 0.42% of Constellation Brands worth $132,757,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in STZ. Hanson McClain Inc. boosted its stake in shares of Constellation Brands by 0.3% in the first quarter. Hanson McClain Inc. now owns 769 shares of the company’s stock valued at $125,000 after buying an additional 2 shares during the period. Concert Wealth Management Inc. raised its position in Constellation Brands by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,379 shares of the company’s stock valued at $212,000 after buying an additional 10 shares in the last quarter. Quadrant Capital Group LLC raised its position in Constellation Brands by 3.2% in the first quarter. Quadrant Capital Group LLC now owns 765 shares of the company’s stock valued at $115,000 after buying an additional 24 shares in the last quarter. Atria Investments LLC raised its position in Constellation Brands by 1.6% in the first quarter. Atria Investments LLC now owns 1,702 shares of the company’s stock valued at $276,000 after buying an additional 26 shares in the last quarter. Finally, Usca Ria LLC raised its position in Constellation Brands by 0.8% in the first quarter. Usca Ria LLC now owns 6,140 shares of the company’s stock valued at $995,000 after buying an additional 50 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.
Constellation Brands Inc (NYSE:STZ) traded up 0.32% during midday trading on Friday, hitting $180.88. The stock had a trading volume of 1,108,827 shares. The firm has a market cap of $35.23 billion, a PE ratio of 24.05 and a beta of 0.31. The stock has a 50-day moving average price of $180.12 and a 200 day moving average price of $163.17. Constellation Brands Inc has a one year low of $144.00 and a one year high of $186.55.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.12. Constellation Brands had a return on equity of 19.69% and a net margin of 19.04%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts predict that Constellation Brands Inc will post $7.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, May 8th. This represents a $2.08 annualized dividend and a yield of 1.15%. This is an increase from Constellation Brands’s previous quarterly dividend of $0.40. Constellation Brands’s payout ratio is presently 27.59%.
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Several brokerages recently issued reports on STZ. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a report on Tuesday, May 16th. OTR Global lowered shares of Constellation Brands to a “positive” rating in a report on Tuesday, March 28th. Goldman Sachs Group, Inc. (The) upgraded shares of Constellation Brands from a “buy” rating to a “conviction-buy” rating and reduced their price objective for the company from $200.00 to $168.95 in a report on Monday, April 17th. Royal Bank Of Canada restated a “buy” rating and issued a $183.00 price objective on shares of Constellation Brands in a report on Friday, March 31st. Finally, Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $184.80.
In other Constellation Brands news, Director Barry A. Fromberg sold 700 shares of Constellation Brands stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $170.03, for a total transaction of $119,021.00. Following the sale, the director now owns 21,520 shares of the company’s stock, valued at approximately $3,659,045.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James A. Locke III sold 6,340 shares of Constellation Brands stock in a transaction on Monday, April 24th. The shares were sold at an average price of $173.05, for a total value of $1,097,137.00. Following the sale, the director now directly owns 44,415 shares in the company, valued at approximately $7,686,015.75. The disclosure for this sale can be found here. Insiders have sold a total of 61,244 shares of company stock worth $10,445,048 in the last ninety days. 10.63% of the stock is owned by company insiders.
About Constellation Brands
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.
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