Westover Capital Advisors LLC grew its stake in shares of Constellation Brands (NYSE:STZ) by 336.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,765 shares of the company’s stock after acquiring an additional 11,384 shares during the period. Constellation Brands comprises about 1.9% of Westover Capital Advisors LLC’s portfolio, making the stock its 15th largest holding. Westover Capital Advisors LLC’s holdings in Constellation Brands were worth $3,375,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in STZ. Bessemer Group Inc. raised its stake in Constellation Brands by 153.1% during the 4th quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock valued at $121,000 after purchasing an additional 320 shares during the period. Cerebellum GP LLC acquired a new stake in Constellation Brands during the 4th quarter valued at $134,000. Trustcore Financial Services LLC acquired a new stake in Constellation Brands during the 4th quarter valued at $142,000. Valeo Financial Advisors LLC acquired a new stake in Constellation Brands during the 3rd quarter valued at $153,000. Finally, Calton & Associates Inc. acquired a new stake in Constellation Brands during the 4th quarter valued at $153,000. Institutional investors own 74.53% of the company’s stock.
STZ stock opened at $227.61 on Wednesday. Constellation Brands has a one year low of $160.53 and a one year high of $231.83. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01. The firm has a market cap of $44,072.61, a price-to-earnings ratio of 24.79, a PEG ratio of 1.27 and a beta of 0.14.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, February 8th. Constellation Brands’s payout ratio is 10.13%.
Constellation Brands declared that its board has approved a stock buyback program on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages have issued reports on STZ. Societe Generale raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Vetr raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 target price on the stock in a research note on Monday, February 12th. SunTrust Banks reissued a “buy” rating and set a $250.00 target price (up from $230.00) on shares of Constellation Brands in a research note on Monday, January 8th. Finally, BMO Capital Markets began coverage on shares of Constellation Brands in a research note on Monday, February 5th. They set an “outperform” rating and a $275.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $237.77.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the transaction, the director now directly owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.59% of the company’s stock.
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. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.
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