Constellation Brands (NYSE:STZ)’s share price hit a new 52-week high and low on Tuesday . The stock traded as low as $233.19 and last traded at $231.40, with a volume of 1524806 shares changing hands. The stock had previously closed at $227.02.
Several research firms have issued reports on STZ. Argus increased their target price on Constellation Brands to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, April 3rd. Morgan Stanley increased their target price on Constellation Brands from $250.00 to $262.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 3rd. ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Stifel Nicolaus downgraded Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $245.00 to $228.00 in a research report on Monday, April 2nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a “buy” rating and set a $280.00 target price on shares of Constellation Brands in a research report on Monday, April 2nd. Seven investment 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 stock. Constellation Brands presently has a consensus rating of “Buy” and an average price target of $245.77.
The company has a debt-to-equity ratio of 1.17, a current ratio of 1.79 and a quick ratio of 0.71. The stock has a market capitalization of $45,055.89, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.30 and a beta of 0.09.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be given a dividend of $0.74 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, May 9th. This represents a $2.96 dividend on an annualized basis and a yield of 1.27%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.67%.
Constellation Brands announced that its board has authorized a share buyback plan on Friday, January 5th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Constellation Brands news, EVP David Eric Klein sold 17,900 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $228.43, for a total transaction of $4,088,897.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barry A. Fromberg sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $229.22, for a total value of $687,660.00. The disclosure for this sale can be found here. Insiders have sold 22,905 shares of company stock worth $5,218,499 in the last 90 days. Company insiders own 15.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes 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. Trustcore Financial Services LLC bought a new position in shares of Constellation Brands during the fourth quarter valued at about $142,000. Calton & Associates Inc. bought a new position in shares of Constellation Brands during the fourth quarter valued at about $153,000. Finally, Elite Wealth Management Inc. bought a new position in shares of Constellation Brands during the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 74.56% of the company’s stock.
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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. 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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