Stocks: Russell Investments Group Ltd. Reduces Position in Constellation Brands, Inc. (STZ)

Stocks: Russell Investments Group Ltd. Reduces Position in Constellation Brands, Inc. (STZ)

Russell Investments Group Ltd. cut its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 114,116 shares of the company’s stock after selling 5,314 shares during the period. Russell Investments Group Ltd. owned 0.06% of Constellation Brands worth $18,496,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STZ. Huntington National Bank raised its stake in Constellation Brands by 3.4% in the third quarter. Huntington National Bank now owns 183,777 shares of the company’s stock worth $30,597,000 after buying an additional 5,957 shares in the last quarter. Miura Global Management LLC raised its stake in Constellation Brands by 14.3% in the third quarter. Miura Global Management LLC now owns 400,000 shares of the company’s stock worth $66,596,000 after buying an additional 50,000 shares in the last quarter. Marietta Investment Partners LLC raised its stake in Constellation Brands by 13.6% in the third quarter. Marietta Investment Partners LLC now owns 62,511 shares of the company’s stock worth $10,407,000 after buying an additional 7,496 shares in the last quarter. Advantus Capital Management Inc raised its stake in Constellation Brands by 1.2% in the third quarter. Advantus Capital Management Inc now owns 17,747 shares of the company’s stock worth $2,955,000 after buying an additional 202 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Constellation Brands by 2.2% in the third quarter. World Asset Management Inc now owns 17,275 shares of the company’s stock worth $2,876,000 after buying an additional 378 shares in the last quarter. Institutional investors own 75.54% of the company’s stock.

Constellation Brands, Inc. (NYSE:STZ) opened at 178.29 on Friday. The firm has a market capitalization of $34.73 billion, a P/E ratio of 23.71 and a beta of 0.52. Constellation Brands, Inc. has a 12 month low of $144.00 and a 12 month high of $179.85. The stock’s 50 day moving average price is $169.78 and its 200-day moving average price is $159.00.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 6th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.12. Constellation Brands had a net margin of 16.65% and a return on equity of 19.07%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the company earned $1.19 earnings per share. Constellation Brands’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post $7.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Wednesday, May 10th will be given a $0.52 dividend. The ex-dividend date is Monday, May 8th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.40. This represents a $2.08 dividend on an annualized basis and a yield of 1.17%. Constellation Brands’s payout ratio is 24.73%.

A number of analysts have weighed in on STZ shares. HSBC Holdings plc upgraded Constellation Brands from a “reduce” rating to a “hold” rating and upped their target price for the stock from $132.00 to $153.00 in a report on Wednesday, February 1st. Vetr lowered Constellation Brands from a “strong-buy” rating to a “buy” rating and set a $163.75 target price for the company. in a report on Monday, January 23rd. OTR Global lowered Constellation Brands to a “positive” rating in a report on Tuesday, March 28th. Royal Bank of Canada restated a “buy” rating and set a $183.00 target price on shares of Constellation Brands in a report on Friday, March 31st. Finally, JPMorgan Chase & Co. started coverage on Constellation Brands in a report on Tuesday, March 21st. They set an “overweight” rating and a $183.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Constellation Brands presently has a consensus rating of “Buy” and an average price target of $182.86.

In other Constellation Brands news, Director Barry A. Fromberg sold 700 shares of Constellation Brands stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $170.03, for a total value of $119,021.00. Following the transaction, the director now directly owns 21,520 shares in the company, valued at $3,659,045.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas J. Mullin sold 39,854 shares of Constellation Brands stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $169.55, for a total transaction of $6,757,245.70. Following the completion of the transaction, the vice president now owns 48,900 shares in the company, valued at $8,290,995. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,244 shares of company stock valued at $10,445,048. 10.63% of the stock is owned by corporate 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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