Employees Retirement System of Texas decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 62,500 shares of the company’s stock after selling 18,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Constellation Brands were worth $14,286,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of STZ. Egerton Capital UK LLP grew its stake in shares of Constellation Brands by 13.0% during the 3rd quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after acquiring an additional 353,490 shares during the period. KAMES CAPITAL plc grew its stake in shares of Constellation Brands by 3,223.4% during the 4th quarter. KAMES CAPITAL plc now owns 326,658 shares of the company’s stock worth $74,671,000 after acquiring an additional 316,829 shares during the period. Truepoint Inc. bought a new position in shares of Constellation Brands during the 3rd quarter worth $294,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Constellation Brands by 501.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 200,770 shares of the company’s stock worth $40,212,000 after acquiring an additional 167,385 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Constellation Brands during the 3rd quarter worth $23,934,000. Institutional investors own 75.68% of the company’s stock.
Several brokerages have commented on STZ. Credit Suisse Group raised their target price on Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Susquehanna Bancshares set a $207.00 target price on Constellation Brands and gave the stock a “hold” rating in a research note on Monday, January 1st. Deutsche Bank began coverage on Constellation Brands in a research note on Wednesday, December 13th. They issued a “buy” rating and a $244.00 target price for the company. Wells Fargo & Co raised their target price on Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, Barclays began coverage on Constellation Brands in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 target price for the company. Five 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 company. Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $237.77.
Shares of Constellation Brands, Inc. (STZ) opened at $219.45 on Tuesday. The stock has a market capitalization of $42,729.11, a PE ratio of 23.91, a PEG ratio of 1.35 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, Inc. has a 12-month low of $153.28 and a 12-month high of $229.50.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.13. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. During the same quarter last year, the company posted $1.96 EPS. sell-side analysts forecast that Constellation Brands, Inc. will post 8.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.95%. Constellation Brands’s dividend payout ratio (DPR) is presently 22.66%.
Constellation Brands announced that its Board of Directors has initiated a share buyback 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 an indication that the company’s management believes its stock is undervalued.
In other news, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands stock in a transaction dated 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 in the company, valued at approximately $4,582,531.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 15.59% of the company’s stock.
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Constellation Brands 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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