Scotia Capital Inc. boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,355 shares of the company’s stock after purchasing an additional 346 shares during the period. Scotia Capital Inc.’s holdings in Constellation Brands were worth $5,797,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in STZ. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Constellation Brands by 2.3% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,393 shares of the company’s stock valued at $5,065,000 after purchasing an additional 574 shares in the last quarter. Chicago Equity Partners LLC grew its position in Constellation Brands by 65.1% during the third quarter. Chicago Equity Partners LLC now owns 7,265 shares of the company’s stock valued at $1,449,000 after purchasing an additional 2,865 shares in the last quarter. Stevens Capital Management LP purchased a new position in Constellation Brands during the third quarter valued at approximately $8,714,000. Nelson Roberts Investment Advisors LLC grew its position in Constellation Brands by 1.4% during the third quarter. Nelson Roberts Investment Advisors LLC now owns 25,155 shares of the company’s stock valued at $5,017,000 after purchasing an additional 345 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Constellation Brands by 4.0% during the third quarter. Prudential Financial Inc. now owns 368,099 shares of the company’s stock valued at $73,417,000 after purchasing an additional 14,137 shares in the last quarter. 74.55% of the stock is currently owned by hedge funds and other institutional investors.
STZ has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective on the stock in a research report on Monday, December 18th. Deutsche Bank initiated coverage on shares of Constellation Brands in a research note on Wednesday, December 13th. They issued a “buy” rating and a $244.00 target price for the company. SunTrust Banks reiterated a “buy” rating and issued a $250.00 target price (up from $230.00) on shares of Constellation Brands in a research note on Monday, January 8th. Susquehanna Bancshares set a $207.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research note on Sunday, January 7th. Finally, Credit Suisse Group lifted their target price on shares of Constellation Brands from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $237.77.
In related news, Director Barry A. Fromberg sold 2,005 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 20,790 shares in the company, valued at approximately $4,582,531.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.59% of the stock is owned by corporate insiders.
Shares of Constellation Brands, Inc. (NYSE:STZ) traded down $0.55 during trading on Wednesday, hitting $227.39. 672,146 shares of the stock were exchanged, compared to its average volume of 1,680,000. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.40 and a quick ratio of 0.54. Constellation Brands, Inc. has a twelve month low of $157.51 and a twelve month high of $231.83. The firm has a market capitalization of $44,320.00, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.14.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analysts’ expectations of $1.87 billion. During the same period in the previous year, the company earned $1.96 earnings per share. equities research analysts anticipate that Constellation Brands, Inc. will post 8.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, February 8th. Constellation Brands’s payout ratio is currently 11.30%.
Constellation Brands declared that its board has approved a stock buyback plan on Friday, January 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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Constellation Brands Profile
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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