Newbrook Capital Advisors LP trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 12.8% during the 4th quarter, Holdings Channel reports. The firm owned 496,210 shares of the company’s stock after selling 72,556 shares during the period. Constellation Brands accounts for about 7.6% of Newbrook Capital Advisors LP’s portfolio, making the stock its 3rd largest position. Newbrook Capital Advisors LP’s holdings in Constellation Brands were worth $113,419,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of STZ. Toronto Dominion Bank raised its stake in shares of Constellation Brands by 12.2% in the 3rd quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after acquiring an additional 7,086 shares during the period. Americafirst Capital Management LLC purchased a new stake in Constellation Brands during the 3rd quarter worth approximately $706,000. AXA increased its stake in Constellation Brands by 11.5% during the 3rd quarter. AXA now owns 131,902 shares of the company’s stock worth $26,308,000 after buying an additional 13,570 shares during the period. Rational Advisors LLC increased its stake in Constellation Brands by 291.8% during the 3rd quarter. Rational Advisors LLC now owns 18,022 shares of the company’s stock worth $3,595,000 after buying an additional 13,422 shares during the period. Finally, Partners Capital Investment Group Holdings LLC purchased a new stake in Constellation Brands during the 3rd quarter worth approximately $619,000. Institutional investors own 74.55% of the company’s stock.
Several brokerages recently weighed in on STZ. Zacks Investment Research downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday. Vetr raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 target price on the stock in a research note on Monday, February 12th. BMO Capital Markets began coverage on shares of Constellation Brands in a research note on Monday, February 5th. They set an “outperform” rating and a $275.00 target price on the stock. Barclays began coverage on shares of Constellation Brands in a research note on Wednesday, January 10th. They set an “overweight” rating and a $255.00 target price on the stock. Finally, Credit Suisse Group upped their target price on shares of Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given 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.
Constellation Brands, Inc. (NYSE:STZ) opened at $227.93 on Wednesday. Constellation Brands, Inc. has a twelve month low of $159.28 and a twelve month high of $231.83. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.40 and a quick ratio of 0.54. The stock has a market cap of $44,430.00, a price-to-earnings ratio of 27.70, a PEG ratio of 1.24 and a beta of 0.14.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.13. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $1.96 EPS. sell-side analysts expect that Constellation Brands, Inc. will post 8.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, February 8th. Constellation Brands’s payout ratio is 11.30%.
Constellation Brands announced that its Board of Directors has authorized a share buyback program 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 programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other 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 value of $441,942.10. Following the completion of the transaction, the director now 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 at this link. Corporate insiders own 15.59% of the company’s stock.
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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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