Utah Retirement Systems Holds Stake in Constellation Brands Inc. (STZ)
Utah Retirement Systems continued to hold its stake in shares of Constellation Brands Inc. (NYSE:STZ) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,438 shares of the company’s stock at the end of the third quarter. Utah Retirement Systems’ holdings in Constellation Brands were worth $5,067,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the stock. Bahl & Gaynor Inc. raised its position in Constellation Brands by 0.7% in the third quarter. Bahl & Gaynor Inc. now owns 1,218 shares of the company’s stock valued at $202,000 after buying an additional 8 shares during the period. GAM Holding AG raised its position in Constellation Brands by 14.3% in the third quarter. GAM Holding AG now owns 22,022 shares of the company’s stock valued at $3,666,000 after buying an additional 2,758 shares during the period. ProVise Management Group LLC raised its position in Constellation Brands by 9.9% in the third quarter. ProVise Management Group LLC now owns 6,814 shares of the company’s stock valued at $1,135,000 after buying an additional 616 shares during the period. Oppenheimer & Co. Inc. raised its position in Constellation Brands by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 41,011 shares of the company’s stock valued at $6,828,000 after buying an additional 1,956 shares during the period. Finally, Intrust Bank NA raised its position in Constellation Brands by 1.8% in the third quarter. Intrust Bank NA now owns 4,146 shares of the company’s stock valued at $690,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 73.53% of the company’s stock.
Constellation Brands Inc. (NYSE:STZ) traded down 2.99% during midday trading on Wednesday, hitting $151.14. 3,310,964 shares of the stock were exchanged. The stock has a market cap of $30.39 billion, a price-to-earnings ratio of 26.00 and a beta of 0.59. The firm’s 50-day moving average is $162.05 and its 200 day moving average is $162.03. Constellation Brands Inc. has a 52 week low of $130.23 and a 52 week high of $173.55.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.12. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The business earned $2.02 billion during the quarter. During the same period in the prior year, the company earned $1.56 EPS. Constellation Brands’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts expect that Constellation Brands Inc. will post $6.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 4th. Constellation Brands’s dividend payout ratio is presently 27.49%.
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Several equities analysts recently commented on STZ shares. Bank of America Corp. reissued a “buy” rating and issued a $185.00 target price on shares of Constellation Brands in a report on Friday, September 30th. RBC Capital Markets set a $181.00 price objective on Constellation Brands and gave the stock a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a report on Friday, September 16th. Pivotal Research reaffirmed a “buy” rating and set a $200.00 price objective on shares of Constellation Brands in a report on Thursday, October 6th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Constellation Brands currently has a consensus rating of “Buy” and an average price target of $178.30.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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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