Klingenstein Fields & Co. LLC bought a new stake in Constellation Brands, Inc. (NYSE:STZ) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 103,681 shares of the company’s stock, valued at approximately $18,178,000. Klingenstein Fields & Co. LLC owned 0.05% of Constellation Brands at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of STZ. Norges Bank purchased a new position in shares of Constellation Brands in the 4th quarter valued at $237,135,000. Mackenzie Financial Corp raised its stake in shares of Constellation Brands by 169.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,093,303 shares of the company’s stock valued at $175,825,000 after acquiring an additional 687,703 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Constellation Brands by 98.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,299,152 shares of the company’s stock valued at $280,123,000 after purchasing an additional 644,939 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in Constellation Brands during the 4th quarter valued at $55,937,000. Finally, SG Americas Securities LLC grew its holdings in Constellation Brands by 108.4% during the 4th quarter. SG Americas Securities LLC now owns 24,807 shares of the company’s stock valued at $3,989,000 after purchasing an additional 320,320 shares in the last quarter. 74.05% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Robert Sands sold 23,611 shares of Constellation Brands stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $206.48, for a total value of $4,875,199.28. Following the completion of the transaction, the chairman now directly owns 570,857 shares of the company’s stock, valued at approximately $117,870,553.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas Michael Kane sold 3,071 shares of Constellation Brands stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $190.08, for a total transaction of $583,735.68. The disclosure for this sale can be found here. Insiders sold a total of 76,646 shares of company stock valued at $15,572,098 over the last ninety days. Company insiders own 15.80% of the company’s stock.
STZ stock traded down $0.03 during mid-day trading on Wednesday, hitting $204.97. 828,872 shares of the company were exchanged, compared to its average volume of 2,293,117. The firm has a market cap of $38.98 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.80 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.16 and a quick ratio of 0.49. Constellation Brands, Inc. has a twelve month low of $150.37 and a twelve month high of $234.26.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 4th. The company reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.12. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the business earned $1.90 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Constellation Brands, Inc. will post 8.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.75 dividend. The ex-dividend date is Thursday, May 9th. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Constellation Brands’s payout ratio is 10.02%.
A number of equities research analysts recently weighed in on STZ shares. Bank of America reaffirmed a “buy” rating and set a $216.00 price target (up from $188.00) on shares of Constellation Brands in a report on Friday, April 5th. They noted that the move was a valuation call. Credit Suisse Group set a $230.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group raised their price target on shares of Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a report on Monday, April 22nd. Zacks Investment Research lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Finally, Morgan Stanley set a $233.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a report on Thursday, February 14th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $223.13.
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Constellation Brands Profile
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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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