Cornerstone Capital Management Holdings LLC. trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 27.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,212 shares of the company’s stock after selling 22,384 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Constellation Brands were worth $13,762,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Constellation Brands by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,682,164 shares of the company’s stock valued at $383,615,000 after acquiring an additional 88,681 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Constellation Brands by 11,394.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,183,937 shares of the company’s stock valued at $270,612,000 after acquiring an additional 1,173,637 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Constellation Brands by 11.0% in the third quarter. Westfield Capital Management Co. LP now owns 857,830 shares of the company’s stock valued at $171,094,000 after acquiring an additional 84,876 shares in the last quarter. Swiss National Bank boosted its stake in Constellation Brands by 0.9% in the fourth quarter. Swiss National Bank now owns 772,716 shares of the company’s stock valued at $176,620,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Constellation Brands by 2.7% in the third quarter. Legal & General Group Plc now owns 695,418 shares of the company’s stock valued at $138,703,000 after acquiring an additional 18,400 shares in the last quarter. Institutional investors own 74.55% of the company’s stock.
Constellation Brands, Inc. (NYSE:STZ) opened at $228.54 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01. Constellation Brands, Inc. has a fifty-two week low of $160.53 and a fifty-two week high of $231.83. The stock has a market cap of $44,310.00, a price-to-earnings ratio of 27.77, a P/E/G ratio of 1.23 and a beta of 0.14.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $1.96 earnings per share. analysts forecast that Constellation Brands, Inc. will post 8.54 EPS for the current year.
Constellation Brands declared that its Board of Directors has initiated a stock buyback program on Friday, January 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.91%. Constellation Brands’s dividend payout ratio (DPR) is presently 11.30%.
In related news, Director Barry A. Fromberg sold 2,005 shares of the firm’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 owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.59% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday. Vetr raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price target for the company in a report on Monday, February 12th. BMO Capital Markets assumed coverage on shares of Constellation Brands in a report on Monday, February 5th. They issued an “outperform” rating and a $275.00 price target for the company. Barclays assumed coverage on shares of Constellation Brands in a report on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 price target for the company. Finally, Credit Suisse Group raised their price target on shares of Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $237.77.
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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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