Tiaa Fsb lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 118.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,023 shares of the company’s stock after purchasing an additional 34,118 shares during the period. Tiaa Fsb’s holdings in Constellation Brands were worth $11,050,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. First Manhattan Co. lifted its holdings in Constellation Brands by 19.7% in the first quarter. First Manhattan Co. now owns 383 shares of the company’s stock valued at $67,000 after acquiring an additional 63 shares during the last quarter. Eads & Heald Wealth Management lifted its holdings in Constellation Brands by 2.3% in the fourth quarter. Eads & Heald Wealth Management now owns 3,370 shares of the company’s stock valued at $542,000 after acquiring an additional 76 shares during the last quarter. National Asset Management Inc. lifted its holdings in Constellation Brands by 2.5% in the fourth quarter. National Asset Management Inc. now owns 3,263 shares of the company’s stock valued at $525,000 after acquiring an additional 79 shares during the last quarter. Bogart Wealth LLC lifted its holdings in Constellation Brands by 17.6% in the fourth quarter. Bogart Wealth LLC now owns 574 shares of the company’s stock valued at $92,000 after acquiring an additional 86 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its holdings in Constellation Brands by 2.7% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 3,218 shares of the company’s stock valued at $518,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.
STZ has been the topic of a number of recent analyst reports. OTR Global cut Constellation Brands to a “positive” rating in a report on Tuesday, December 18th. Macquarie set a $192.00 price objective on Constellation Brands and gave the company a “hold” rating in a report on Monday, December 17th. Morgan Stanley set a $246.00 target price on Constellation Brands and gave the company a “buy” rating in a research report on Thursday, December 20th. HSBC raised Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares raised Constellation Brands to a “neutral” rating and set a $174.00 target price on the stock in a research report on Monday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and an average price target of $222.42.
NYSE STZ traded up $0.39 on Monday, reaching $190.92. The stock had a trading volume of 1,447,556 shares, compared to its average volume of 2,599,572. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $236.62. The company has a quick ratio of 0.49, a current ratio of 1.16 and a debt-to-equity ratio of 0.92. The firm has a market cap of $36.18 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.58 and a beta of 0.45.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. Constellation Brands had a return on equity of 15.63% and a net margin of 38.67%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Constellation Brands, Inc. will post 8.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio is currently 10.02%.
In other news, VP Thomas Michael Kane sold 3,071 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $190.08, for a total transaction of $583,735.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barry A. Fromberg sold 1,500 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $174.72, for a total value of $262,080.00. Following the sale, the director now directly owns 18,240 shares in the company, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. Insiders have sold 5,381 shares of company stock worth $985,986 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.
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About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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