Rhumbline Advisers grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 303,394 shares of the company’s stock after buying an additional 2,204 shares during the quarter. Rhumbline Advisers owned 0.16% of Constellation Brands worth $69,347,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in STZ. Bessemer Group Inc. grew its stake in shares of Constellation Brands by 153.1% during the fourth quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock valued at $121,000 after buying an additional 320 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Constellation Brands during the fourth quarter valued at about $134,000. Valeo Financial Advisors LLC bought a new position in shares of Constellation Brands during the third quarter valued at about $153,000. Calton & Associates Inc. bought a new position in shares of Constellation Brands during the fourth quarter valued at about $153,000. Finally, Mackenzie Financial Corp bought a new position in shares of Constellation Brands during the third quarter valued at about $202,000. 75.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Constellation Brands, Inc. (STZ) opened at $219.45 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01. Constellation Brands, Inc. has a 1-year low of $153.28 and a 1-year high of $229.50. The company has a market cap of $42,215.07, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.11.
Constellation Brands announced that its Board of Directors has approved a stock buyback program on Friday, January 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.95%. Constellation Brands’s dividend payout ratio (DPR) is presently 22.66%.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 20,790 shares in the company, valued at $4,582,531.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.59% of the company’s stock.
A number of research analysts have recently issued reports on STZ shares. Macquarie raised their price objective on Constellation Brands from $246.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 target price on the stock in a research note on Monday, December 18th. Royal Bank of Canada reissued a “buy” rating and issued a $226.00 target price on shares of Constellation Brands in a research note on Sunday, November 12th. Credit Suisse Group raised their target price on Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Finally, Wells Fargo & Co raised their target price on Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Constellation Brands presently has an average rating of “Buy” and an average target price of $237.77.
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Constellation Brands 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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