Sei Investments Co. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,668 shares of the company’s stock after buying an additional 719 shares during the quarter. Sei Investments Co.’s holdings in Constellation Brands were worth $22,553,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. New Mexico Educational Retirement Board increased its position in shares of Constellation Brands by 3.8% in the 4th quarter. New Mexico Educational Retirement Board now owns 16,571 shares of the company’s stock worth $3,788,000 after purchasing an additional 600 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Constellation Brands by 11.8% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 12,603 shares of the company’s stock worth $2,881,000 after purchasing an additional 1,334 shares during the last quarter. RWC Asset Management LLP increased its position in shares of Constellation Brands by 54.0% in the 4th quarter. RWC Asset Management LLP now owns 77,000 shares of the company’s stock worth $17,600,000 after purchasing an additional 27,000 shares during the last quarter. Buckley Wealth Management LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth about $229,000. Finally, EFG Asset Management Americas Corp. increased its position in shares of Constellation Brands by 15.7% in the 4th quarter. EFG Asset Management Americas Corp. now owns 7,799 shares of the company’s stock worth $1,783,000 after purchasing an additional 1,059 shares during the last quarter. Hedge funds and other institutional investors own 75.36% of the company’s stock.
In related news, Director Barry A. Fromberg sold 2,005 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the completion of the sale, the director now owns 20,790 shares of the company’s stock, valued at approximately $4,582,531.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 15.59% of the stock is owned by corporate insiders.
Shares of Constellation Brands, Inc. (NYSE STZ) opened at $219.45 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 1.40. Constellation Brands, Inc. has a 1 year low of $153.28 and a 1 year high of $229.50. The firm has a market cap of $42,729.11, a PE ratio of 26.47, a P/E/G ratio of 1.35 and a beta of 0.11.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. research analysts expect that Constellation Brands, Inc. will post 8.53 earnings per share for the current year.
Constellation Brands declared that its board has approved a stock repurchase program on Friday, January 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 8th. Constellation Brands’s dividend payout ratio is presently 22.66%.
STZ has been the subject of several research analyst reports. Macquarie boosted their target price on shares of Constellation Brands from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 target price for the company in a research report on Monday, December 18th. Royal Bank of Canada reissued a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a research report on Sunday, November 12th. Credit Suisse Group boosted their target price on shares of Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Finally, Wells Fargo & Co boosted their target price on shares of Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and an average target price of $237.77.
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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