CIBC Private Wealth Group LLC decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,398 shares of the company’s stock after selling 763 shares during the period. CIBC Private Wealth Group LLC’s holdings in Constellation Brands were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of STZ. First Hawaiian Bank purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $303,000. HC Financial Advisors Inc. raised its holdings in Constellation Brands by 11.7% in the 3rd quarter. HC Financial Advisors Inc. now owns 5,810 shares of the company’s stock worth $1,253,000 after acquiring an additional 610 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Constellation Brands by 271.4% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 112,346 shares of the company’s stock worth $540,000 after acquiring an additional 82,100 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in Constellation Brands by 15.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 8,859 shares of the company’s stock worth $1,910,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Constellation Brands in the 3rd quarter worth approximately $137,000. 72.12% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director Barry A. Fromberg sold 810 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $173.05, for a total transaction of $140,170.50. Following the completion of the sale, the director now owns 20,550 shares of the company’s stock, valued at approximately $3,556,177.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barry A. Fromberg sold 1,500 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $174.72, for a total transaction of $262,080.00. Following the sale, the director now directly owns 18,240 shares of the company’s stock, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.
Shares of STZ stock opened at $166.98 on Thursday. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $236.62. The company has a quick ratio of 0.43, a current ratio of 1.08 and a debt-to-equity ratio of 1.02. The firm has a market cap of $33.27 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.09 and a beta of 0.48.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.33. Constellation Brands had a net margin of 35.27% and a return on equity of 17.62%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 9.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, February 11th. Constellation Brands’s payout ratio is 10.67%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Friday, December 7th. Morgan Stanley set a $233.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a report on Thursday, February 14th. SunTrust Banks restated a “hold” rating on shares of Constellation Brands in a report on Thursday, January 10th. Macquarie set a $192.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a report on Sunday, December 23rd. Finally, UBS Group assumed coverage on shares of Constellation Brands in a research note on Thursday, December 13th. They set a “neutral” rating and a $209.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $227.42.
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Constellation Brands Company 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. 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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