American International Group Inc. lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,493 shares of the company’s stock after acquiring an additional 2,239 shares during the quarter. American International Group Inc.’s holdings in Constellation Brands were worth $12,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of STZ. Bessemer Group Inc. increased its holdings in Constellation Brands by 153.1% in the fourth quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after purchasing an additional 320 shares in the last quarter. Cerebellum GP LLC bought a new stake in Constellation Brands in the fourth quarter worth approximately $134,000. Trustcore Financial Services LLC bought a new stake in Constellation Brands in the fourth quarter worth approximately $142,000. Calton & Associates Inc. bought a new stake in Constellation Brands in the fourth quarter worth approximately $153,000. Finally, Valeo Financial Advisors LLC bought a new stake in Constellation Brands in the third quarter worth approximately $153,000. Institutional investors own 75.68% of the company’s stock.
A number of equities research analysts have weighed in on the company. Susquehanna Bancshares set a $207.00 target price on Constellation Brands and gave the stock a “hold” rating in a report on Monday, January 1st. Wells Fargo & Co lifted their target price on Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Macquarie lifted their target price on Constellation Brands from $246.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 target price for the company in a report on Monday, December 18th. 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 for the company. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $237.77.
Shares of Constellation Brands, Inc. (NYSE:STZ) opened at $217.46 on Friday. The company has a market capitalization of $41,494.65, a P/E ratio of 25.71, a PEG ratio of 1.31 and a beta of 0.11. Constellation Brands, Inc. has a 1-year low of $153.75 and a 1-year high of $229.50. 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 data on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ 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 in the previous year, the company posted $1.96 earnings per share. sell-side analysts expect that Constellation Brands, Inc. will post 8.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio is 22.66%.
Constellation Brands declared that its Board of Directors has initiated a stock buyback plan on Friday, January 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, 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 transaction, the director now owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.59% of the company’s stock.
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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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