Nisa Investment Advisors LLC lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,836 shares of the company’s stock after selling 1,159 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Constellation Brands were worth $17,788,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its position in Constellation Brands by 12.9% during the third quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock valued at $634,000 after purchasing an additional 362 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Constellation Brands by 12.2% in the third quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after acquiring an additional 7,086 shares during the period. Americafirst Capital Management LLC purchased a new stake in shares of Constellation Brands in the third quarter valued at $706,000. Achmea Investment Management B.V. raised its stake in shares of Constellation Brands by 88.1% in the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after acquiring an additional 4,377 shares during the period. Finally, Balasa Dinverno & Foltz LLC purchased a new stake in shares of Constellation Brands in the third quarter valued at $204,000. Institutional investors and hedge funds own 75.42% of the company’s stock.
In related news, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the sale, the vice president now directly owns 72,924 shares in the company, valued at approximately $15,825,237.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands stock in a transaction that occurred on Tuesday, January 30th. The stock was 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 $4,582,531.80. The disclosure for this sale can be found here. 15.59% of the stock is currently owned by company insiders.
Shares of Constellation Brands, Inc. (STZ) traded down $4.80 during trading on Friday, reaching $215.89. 1,640,827 shares of the company’s stock traded hands, compared to its average volume of 2,240,000. Constellation Brands, Inc. has a one year low of $148.38 and a one year high of $229.50. The company has a market cap of $42,030.00, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.11. 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 (NYSE:STZ) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business earned $1.96 EPS. research analysts predict that Constellation Brands, Inc. will post 8.53 earnings per share for the current year.
Constellation Brands declared that its board has initiated a share repurchase program on Friday, January 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, February 8th. Constellation Brands’s dividend payout ratio is currently 25.27%.
STZ has been the topic of several recent analyst reports. 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 on the stock. 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 Monday, January 1st. Credit Suisse Group increased 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. Barclays assumed coverage on shares of Constellation Brands in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 price target on the stock. Finally, Wells Fargo & Co raised their price target on shares of Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $232.80.
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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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