Wells Fargo & Company MN reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,553,709 shares of the company’s stock after selling 210,069 shares during the quarter. Wells Fargo & Company MN owned 0.80% of Constellation Brands worth $355,131,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wedbush Securities Inc. grew its holdings in shares of Constellation Brands by 12.9% during the third quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock valued at $634,000 after buying an additional 362 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Constellation Brands by 12.2% during the third quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after buying an additional 7,086 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in shares of Constellation Brands during the third quarter valued at about $706,000. Achmea Investment Management B.V. grew its holdings in shares of Constellation Brands by 88.1% during the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after buying an additional 4,377 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC acquired a new position in shares of Constellation Brands during the third quarter valued at about $204,000. Hedge funds and other institutional investors own 75.36% of the company’s stock.
A number of brokerages have recently issued reports on STZ. Vetr upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price objective for the company in a report on Monday, February 5th. BMO Capital Markets began coverage on shares of Constellation Brands in a report on Monday, February 5th. They set an “outperform” rating and a $275.00 price objective for the company. Evercore ISI lifted their price objective on shares of Constellation Brands from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Susquehanna Bancshares set a $207.00 price target on shares of Constellation Brands and gave the company a “hold” rating in a research report on Monday, January 1st. Finally, Barclays assumed coverage on shares of Constellation Brands in a research report on Wednesday, January 10th. They set an “overweight” rating and a $255.00 price target on the stock. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Constellation Brands presently has an average rating of “Buy” and a consensus price target of $237.77.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 5th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same quarter in the previous year, the firm posted $1.96 earnings per share. equities analysts forecast that Constellation Brands, Inc. will post 8.53 EPS for the current year.
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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, February 8th. Constellation Brands’s dividend payout ratio is 11.30%.
Constellation Brands announced that its Board of Directors has approved a stock repurchase program on Friday, January 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands 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 sale, the director now owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.59% of the company’s stock.
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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