First National Trust Co trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,383 shares of the company’s stock after selling 1,518 shares during the period. First National Trust Co’s holdings in Constellation Brands were worth $1,231,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in STZ. Oppenheimer Asset Management Inc. lifted its position in shares of Constellation Brands by 50.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock worth $112,000 after buying an additional 193 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Constellation Brands in the third quarter worth about $153,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Constellation Brands in the second quarter worth about $157,000. BB&T Investment Services Inc. purchased a new stake in shares of Constellation Brands in the second quarter worth about $179,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Constellation Brands in the third quarter worth about $202,000. Institutional investors and hedge funds own 74.96% of the company’s stock.
A number of research firms recently commented on STZ. Evercore ISI boosted their target price on Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. SunTrust Banks reiterated a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research report on Friday, October 6th. Pivotal Research boosted their target price on Constellation Brands from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Morgan Stanley boosted their target price on Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Finally, Citigroup reiterated a “neutral” rating and issued a $232.00 target price (up from $211.00) on shares of Constellation Brands in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and a consensus price target of $229.00.
In other news, VP Thomas J. Mullin sold 18,227 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the transaction, the vice president now owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 15.59% of the company’s stock.
Shares of Constellation Brands, Inc. (NYSE STZ) opened at $217.29 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 52 week low of $146.99 and a 52 week high of $229.50. The firm has a market capitalization of $42,520.00, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.34 and a beta of 0.08.
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 Thomson Reuters’ consensus estimate of $1.87 by $0.13. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. equities analysts predict that Constellation Brands, Inc. will post 8.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.96%. Constellation Brands’s payout ratio is currently 11.30%.
Constellation Brands declared that its board has approved a share repurchase plan on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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Constellation Brands Company 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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