The Cypress Capital Management LLC WY Acquires New Stake in Constellation Brands Inc. (STZ)

The Cypress Capital Management LLC WY Acquires New Stake in Constellation Brands Inc. (STZ)

Cypress Capital Management LLC WY acquired a new stake in Constellation Brands Inc. (NYSE:STZ) during the second quarter, Holdings Channel reports. The fund acquired 6,798 shares of the company’s stock, valued at approximately $1,124,000. Constellation Brands makes up approximately 1.5% of Cypress Capital Management LLC WY’s portfolio, making the stock its 17th largest position.

A number of other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares in the last quarter. LMR Partners LLP boosted its stake in shares of Constellation Brands by 32.9% in the second quarter. LMR Partners LLP now owns 15,439 shares of the company’s stock valued at $2,553,000 after buying an additional 3,826 shares in the last quarter. Huntington National Bank boosted its stake in shares of Constellation Brands by 197.3% in the second quarter. Huntington National Bank now owns 177,820 shares of the company’s stock valued at $29,412,000 after buying an additional 118,004 shares in the last quarter. Redwood Investments LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at $14,966,000. Finally, First National Trust Co. boosted its stake in shares of Constellation Brands by 2.9% in the second quarter. First National Trust Co. now owns 10,945 shares of the company’s stock valued at $1,810,000 after buying an additional 310 shares in the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Constellation Brands Inc. (NYSE:STZ) traded down 1.37% during midday trading on Monday, hitting $167.13. The stock had a trading volume of 1,517,220 shares. The company’s 50 day moving average is $166.19 and its 200 day moving average is $161.35. The firm has a market cap of $33.61 billion, a P/E ratio of 28.76 and a beta of 0.63. Constellation Brands Inc. has a 52 week low of $130.23 and a 52 week high of $173.55.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.12. The business earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.56 earnings per share. On average, equities analysts predict that Constellation Brands Inc. will post $6.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. Constellation Brands’s payout ratio is currently 27.49%.

Several equities analysts have recently issued reports on the company. Citigroup Inc. restated a “neutral” rating and set a $191.00 target price (up from $180.00) on shares of Constellation Brands in a research report on Sunday, October 9th. Morgan Stanley restated an “overweight” rating and set a $194.00 target price (up from $191.00) on shares of Constellation Brands in a research report on Saturday, October 8th. Bank of America Corp. restated a “buy” rating and set a $195.00 target price on shares of Constellation Brands in a research report on Thursday, October 6th. Pivotal Research restated a “buy” rating and set a $200.00 target price on shares of Constellation Brands in a research report on Thursday, October 6th. Finally, RBC Capital Markets restated an “outperform” rating and set a $181.00 target price on shares of Constellation Brands in a research report on Wednesday, October 5th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $181.25.

In other Constellation Brands news, VP Thomas J. Mullin sold 9,516 shares of Constellation Brands stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $166.42, for a total value of $1,583,652.72. Following the completion of the sale, the vice president now directly owns 88,602 shares in the company, valued at $14,745,144.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William F. Hackett sold 8,000 shares of Constellation Brands stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $164.67, for a total value of $1,317,360.00. Following the completion of the sale, the executive vice president now owns 54,934 shares of the company’s stock, valued at $9,045,981.78. The disclosure for this sale can be found here. 10.63% of the stock is owned by company insiders.

Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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