Chatham Capital Group Inc. bought a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,185 shares of the company’s stock, valued at approximately $2,662,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Norges Bank acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $237,135,000. Janus Henderson Group PLC raised its position in Constellation Brands by 53.3% in the first quarter. Janus Henderson Group PLC now owns 2,120,744 shares of the company’s stock valued at $371,831,000 after purchasing an additional 737,613 shares during the last quarter. Mackenzie Financial Corp raised its position in Constellation Brands by 169.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,093,303 shares of the company’s stock valued at $175,825,000 after purchasing an additional 687,703 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Constellation Brands in the fourth quarter valued at about $55,937,000. Finally, SG Americas Securities LLC raised its position in Constellation Brands by 108.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.
In other news, Chairman Robert Sands sold 23,611 shares of Constellation Brands stock in a transaction on Wednesday, May 15th. The stock was 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 in the company, valued at $117,870,553.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO James A. Jr. Sabia sold 4,275 shares of Constellation Brands stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $194.70, for a total value of $832,342.50. Following the completion of the transaction, the chief marketing officer now owns 43,494 shares of the company’s stock, valued at $8,468,281.80. The disclosure for this sale can be found here. Insiders sold 80,921 shares of company stock valued at $16,404,441 over the last three months. Company insiders own 15.86% of the company’s stock.
Shares of STZ stock traded down $1.71 during trading hours on Friday, reaching $187.63. The company had a trading volume of 630,641 shares, compared to its average volume of 2,271,470. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $234.26. 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 capitalization of $36.23 billion, a PE ratio of 20.22, a P/E/G ratio of 2.57 and a beta of 0.68.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, April 4th. The company reported $1.84 EPS for the quarter, topping the Zacks’ consensus estimate 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 period last year, the company posted $1.90 earnings per share. Constellation Brands’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 8.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a $0.75 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.74. This represents a $3.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, May 9th. Constellation Brands’s dividend payout ratio (DPR) is currently 10.02%.
Several equities analysts have commented on STZ shares. Bank of America reiterated a “buy” rating and issued a $216.00 target price (up from $188.00) on shares of Constellation Brands in a research report on Friday, April 5th. They noted that the move was a valuation call. Macquarie set a $220.00 price target on Constellation Brands and gave the company a “hold” rating in a research note on Wednesday, June 5th. Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the company a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group increased their price target on Constellation Brands from $267.00 to $275.00 and gave the company a “top pick” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research cut Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $224.13.
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. 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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