Bank of New York Mellon Corp trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,988,876 shares of the company’s stock after selling 12,242 shares during the period. Bank of New York Mellon Corp’s holdings in Constellation Brands were worth $454,597,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its holdings in shares of 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 lifted its holdings in shares of Constellation Brands by 12.2% during the third quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after purchasing an additional 7,086 shares during the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $706,000. Achmea Investment Management B.V. lifted its holdings in shares of Constellation Brands by 88.1% during the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after purchasing an additional 4,377 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 75.36% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Vetr upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 target price for the company in a report on Monday, February 12th. BMO Capital Markets began coverage on shares of Constellation Brands in a report on Monday, February 5th. They issued an “outperform” rating and a $275.00 price objective for the company. Barclays began coverage on shares of Constellation Brands in a report on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 price objective for the company. Credit Suisse Group boosted their price objective 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. Finally, SunTrust Banks restated a “buy” rating and issued a $250.00 price objective (up from $230.00) on shares of Constellation Brands in a report on Monday, January 8th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $237.77.
Shares of Constellation Brands, Inc. (NYSE STZ) opened at $219.45 on Friday. The firm has a market cap of $42,650.00, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.33 and a beta of 0.11. 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 12 month low of $153.28 and a 12 month high of $229.50.
Constellation Brands (NYSE:STZ) last announced its 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. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.87 billion. Constellation Brands had a net margin of 27.50% and a return on equity of 24.74%. During the same period in the previous year, the business earned $1.96 EPS. equities research analysts predict that Constellation Brands, Inc. will post 8.53 earnings per share for the current year.
The business also recently announced 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 dividend on an annualized basis and a yield of 0.95%. Constellation Brands’s dividend payout ratio is presently 25.27%.
Constellation Brands announced that its Board of Directors has authorized a share repurchase 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 often an indication that the company’s management believes its shares are undervalued.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of the business’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 directly owns 20,790 shares in the company, valued at approximately $4,582,531.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 15.59% of the stock is currently owned by insiders.
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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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