Norinchukin Bank The increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,774 shares of the company’s stock after buying an additional 979 shares during the period. Norinchukin Bank The’s holdings in Constellation Brands were worth $3,148,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in STZ. Bessemer Group Inc. grew its holdings in Constellation Brands by 153.1% during the fourth quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after acquiring an additional 320 shares during the period. Cerebellum GP LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $134,000. Trustcore Financial Services LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $142,000. Valeo Financial Advisors LLC acquired a new stake in Constellation Brands in the third quarter valued at $153,000. Finally, Calton & Associates Inc. acquired a new stake in Constellation Brands in the fourth quarter valued at $153,000. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Barry A. Fromberg sold 2,005 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total value of $441,942.10. Following the sale, the director now directly owns 20,790 shares in the company, valued at $4,582,531.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.59% of the stock is owned by corporate insiders.
Several analysts have weighed in on the company. Vetr raised Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 target price on the stock in a report on Monday, February 5th. BMO Capital Markets assumed coverage on Constellation Brands in a report on Monday, February 5th. They issued an “outperform” rating and a $275.00 target price on the stock. Evercore ISI upped their target price on Constellation Brands from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Susquehanna Bancshares set a $207.00 target price on Constellation Brands and gave the company a “hold” rating in a report on Monday, January 1st. Finally, Barclays assumed coverage on Constellation Brands in a report on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 target price on the stock. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $237.77.
Shares of Constellation Brands, Inc. (NYSE:STZ) opened at $217.33 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.40 and a quick ratio of 0.54. Constellation Brands, Inc. has a 12-month low of $153.28 and a 12-month high of $229.50. The stock has a market capitalization of $42,729.11, a price-to-earnings ratio of 26.47, a PEG ratio of 1.35 and a beta of 0.11.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $1.96 earnings per share. sell-side analysts anticipate that Constellation Brands, Inc. will post 8.53 EPS for the current fiscal year.
Constellation Brands declared that its board has authorized a stock buyback program on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio is currently 22.66%.
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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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