New Mexico Educational Retirement Board lifted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,571 shares of the company’s stock after acquiring an additional 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Constellation Brands were worth $3,788,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its holdings 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 acquiring an additional 1,334 shares in the last quarter. RWC Asset Management LLP boosted its holdings 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 acquiring an additional 27,000 shares in the last quarter. Buckley Wealth Management LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $229,000. EFG Asset Management Americas Corp. boosted its holdings 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 acquiring an additional 1,059 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $1,058,000. 75.36% of the stock is currently owned by institutional investors and hedge funds.
STZ has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a report on Sunday, November 12th. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Deutsche Bank initiated coverage on shares of Constellation Brands in a research report on Wednesday, December 13th. They issued a “buy” rating and a $244.00 price objective for the company. Susquehanna Bancshares set a $207.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a research report on Monday, January 1st. Finally, Macquarie boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Constellation Brands presently has a consensus rating of “Buy” and an average price target of $237.77.
In other Constellation Brands 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 sale, the director now owns 20,790 shares in the company, valued at approximately $4,582,531.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.59% of the company’s stock.
Constellation Brands, Inc. (NYSE:STZ) opened at $213.47 on Wednesday. The firm has a market cap of $41,475.18, a P/E ratio of 25.69, a P/E/G ratio of 1.31 and a beta of 0.11. Constellation Brands, Inc. has a 1 year low of $153.28 and a 1 year high of $229.50. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.87 by $0.13. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same quarter in the previous year, the company posted $1.96 EPS. analysts expect that Constellation Brands, Inc. will post 8.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, February 8th. Constellation Brands’s payout ratio is 22.66%.
Constellation Brands announced that its Board of Directors has approved a stock repurchase plan 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. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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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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