Central Bank & Trust Co. Sells 438 Shares of Constellation Brands, Inc. (STZ)
Central Bank & Trust Co. trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,063 shares of the company’s stock after selling 438 shares during the period. Central Bank & Trust Co.’s holdings in Constellation Brands were worth $5,043,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Veritable L.P. lifted its position in shares of Constellation Brands by 1.8% during the second quarter. Veritable L.P. now owns 3,447 shares of the company’s stock worth $668,000 after purchasing an additional 61 shares in the last quarter. Princeton Portfolio Strategies Group LLC lifted its position in shares of Constellation Brands by 3.3% during the second quarter. Princeton Portfolio Strategies Group LLC now owns 2,352 shares of the company’s stock worth $456,000 after purchasing an additional 75 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Constellation Brands by 1.4% during the second quarter. Thrivent Financial For Lutherans now owns 6,440 shares of the company’s stock worth $1,248,000 after purchasing an additional 90 shares in the last quarter. WFG Advisors LP lifted its position in shares of Constellation Brands by 7.3% during the second quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock worth $264,000 after purchasing an additional 93 shares in the last quarter. Finally, Zacks Investment Management lifted its position in shares of Constellation Brands by 11.6% during the second quarter. Zacks Investment Management now owns 1,496 shares of the company’s stock worth $290,000 after purchasing an additional 156 shares in the last quarter. 74.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Constellation Brands, Inc. (NYSE:STZ) traded up $0.31 during trading hours on Tuesday, hitting $217.76. 2,210,000 shares of the company were exchanged, compared to its average volume of 2,110,000. The company has a current ratio of 1.40, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $42,660.00, a price-to-earnings ratio of 26.46, a PEG ratio of 1.34 and a beta of 0.08. Constellation Brands, Inc. has a fifty-two week low of $146.99 and a fifty-two week high of $229.50.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. The business had revenue of $1.98 billion during 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 earned $1.96 earnings per share. analysts forecast that Constellation Brands, Inc. will post 8.53 earnings per share for the current fiscal year.
Constellation Brands announced that its board has authorized a stock repurchase plan on Friday, January 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.52 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. Constellation Brands’s dividend payout ratio (DPR) is presently 11.30%.
In related news, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total value of $3,955,441.27. Following the completion of the sale, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.59% of the stock is currently owned by insiders.
A number of research analysts have recently commented on STZ shares. Morgan Stanley boosted their target price on shares of Constellation Brands from $218.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, October 6th. Macquarie boosted their target price on shares of Constellation Brands from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 target price on the stock in a research report on Monday, December 18th. Royal Bank of Canada reissued a “buy” rating and set a $226.00 target price on shares of Constellation Brands in a research report on Sunday, November 12th. Finally, Evercore ISI reissued an “outperform” rating and set a $235.00 target price (up from $230.00) on shares of Constellation Brands in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $229.00.
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Constellation Brands Company 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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