In August, Constellation Brands, Inc. had a large drop in the number of short positions held by investors (NYSE: STZ). There were 2,210,000 shares borrowed as of July 31, but as of August 15, there were only 1,600,000 shares borrowed, a fall of 27.6% from the previous figure. Currently, the days-to-cover ratio stands at 1.6, and this number is derived from an average daily trading volume of 1,020,000 shares. In addition, there are currently short sales in the market for 1.0% of the company’s stock. Consider These three stocks of consumer staples are defensive bets to consider.
Recently, the corporation has owned input from several equity research professionals. In a research note published on Tuesday, June 21, UBS Group lowered its “buy” rating and price target for Constellation Brands from $285 to $270 in a research note. The note was produced in response to the company’s decision to slash its dividend. It was about Constellation Brands that the study note was about. Constellation Brands shares have received a “hold” recommendation from Deutsche Bank Aktiengesellschaft, which was disclosed in a research report released on Friday, July 1.
Additionally, the target price for these shares has been reduced from $248.00 to $240.00. Bloomberg upgraded Constellation Brands’ rating from “hold” to “buy” in a research report published on Monday, June 20. The analysis was about the company’s financial performance. Wells Fargo & Company raised Constellation Brands from an “underweight” rating to an “equal weight” rating in a research report published on Wednesday, June 8. In addition, they boosted the price objective they had set for the stock from $275.00 to $280.00. Finally, in a research note published on Friday, July 1, Credit Suisse Group lowered their “outperform” rating on Constellation Brands and their price objective, which slid from $295.00 to $292.00.
Both of these changes coincided. Four experts believe that investors should keep their holdings in the firm, while thirteen analysts believe investors should buy it. According to the data provided by Bloomberg, the general opinion about Constellation Brands is that investors should “Moderately Buy” the company’s stock, and the price objective has been established at $272.19. On Friday, the price at which the NYSE STZ first started was $251.90. The company has a PE ratio of 38.05, a PEG ratio of 2.18, and a beta of 1.02, all contributing to the firm’s current market worth of 46.55 billion dollars.
The company’s moving average for the past 50 days is $243.91, and the moving average for the past 200 days is $238.21. Constellation Brands reached its one-year high of $261.52 and its one-year low of $207.35 last year. Due to recent events, constellation Brands’ stock price has reached a new all-time high. On June 30, the results report for Constellation Brands, traded on the NYSE under the symbol STZ, was made public. The firm announced earnings per share for the quarter to be $2.66, which is $0.15 higher than analysts’ average expectation of $2.51. The return on equity for Constellation Brands was 17.19%, and the net margin for the company was 12.7.2%.
The actual sales for the company for the quarter came in at $2.36 billion, which was much more than the projections provided by analysts, which were just $2.16 billion. Compared to the results achieved during the same period in the preceding year, the company earned $2.33 per share. The revenue for Constellation Brands was 16.6% higher than the same quarter of the prior year. According to the projections made by stock research analysts, Constellation Brands will bring in 10.93 dollars per share in revenue during the current fiscal year. In addition, the company announced and disbursed a quarterly dividend, which was paid out on the 24th of the current month (August) and was distributed to shareholders.
On Wednesday, August 10, a dividend payment of $0.80 was paid to stockholders who still had their shares as of that day. The dividend payment was given to investors who still possessed their shares. That results in an annual dividend payment of $3.20 and a dividend yield of 1.27% when computed annually. August 9 was chosen as the date that this payout would be disqualified from participation in the dividend pool. Currently, the payout ratio for Constellation Brands sits at 14.05%. There Are Three Companies in the Consumer Goods Industry That Need Close Monitoring in 2022 Another piece of pertinent information is that on Friday, July 15, a corporate insider named Robert Sands completed a transaction in which he sold 1,427,799 shares of company stock. It came out to an average of $242.81 for each share to be purchased, resulting in a total sale of $346,683,875.19.
There are now 550,214 shares owned directly by company insiders, and the total value of those shares is $133,597,461.34 at present. In addition, the Securities and Exchange Commission (SEC) kept a legal file accessible online and contained information relevant to the transaction. This information can be viewed by anybody interested.
These shares have a value of approximately $133,597,461.34 each. Disclosures that are related to the sale might be found in this section of the website. Insiders have sold 1,619,248 company stock over the past three months, fetching a price of $393,239,506. The current percentage of shares held by company insiders is 16.19% of the total number of shares issued by the company. Regarding Constellation Brands, the perspectives of various hedge funds Recently, several hedge funds and other kinds of institutional investors have changed the proportion of the company’s stock they own in the hedge fund’s or investor’s portfolio. For example, the value of Vanguard Group Inc.’s investment in Constellation Brands increased by 2.6% over the year’s first three months.
After acquiring an additional 313,344 shares during the most recent quarter, Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock, valued at $2,902,327,000. That brings the total number of shares Vanguard Group Inc. BlackRock Inc. boosted its holdings in Constellation Brands by 1.2% during the first three months of 2018. BlackRock Inc. now holds 11,738,986 shares of the company’s stock following the acquisition of an additional 140,074 shares during the most recent quarter. The stock is now valued at $2,703,724,000 at present. During the first three months of 2018, Capital World Investors boosted the amount of Constellation Brands shares they owned by 4.5%, bringing their total ownership percentage to 100%.
After making additional purchases totaling 392,964 shares during the most recent fiscal quarter, Capital World Investors now holds 9,203,388 of the company’s shares in their portfolio. These shares have a value of $2,119,724,000 together. In addition, FMR LLC’s holdings in Constellation Brands climbed by 54.0% during the year’s second quarter. FMR LLC now directly owns 3,488,895 of the company’s shares, which have a value of $813,122,000. That is due to the acquisition of 1,223,134 extra shares during the most recent fiscal quarter. And finally, during the last three months of 2018, Alliancebernstein L.P. boosted the amount of Constellation Brands stock owned by 48.6%. Alliancebernstein L.P. now has 2,885,267 shares, thanks to the addition of 943,872 new shares acquired during the most recent fiscal quarter.
The total value of these shares comes to 724,116 dollars. At present, hedge funds and various other institutional investors control a total of 74.91% of the company’s common stock. Constellation Brands, Inc. is in the business of producing, importing, marketing, and distributing beer, wine, and spirits. The company has subsidiaries in several countries, including the United States, Canada, Mexico, New Zealand, and Italy. Other popular options include Modelo Especial, Modelo Negra, Modelo Chelada, and Pacifico.
