Constellation Brands, Inc. (STZ) Position Cut by Keybank National Association OH
Keybank National Association OH reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 35.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,895 shares of the company’s stock after selling 1,585 shares during the quarter. Keybank National Association OH’s holdings in Constellation Brands were worth $662,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Bessemer Group Inc. increased its position 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 buying an additional 320 shares in the last quarter. Cerebellum GP LLC acquired a new position in Constellation Brands during the 4th quarter valued at about $134,000. Valeo Financial Advisors LLC acquired a new position in Constellation Brands during the 3rd quarter valued at about $153,000. Calton & Associates Inc. acquired a new position in Constellation Brands during the 4th quarter valued at about $153,000. Finally, Mackenzie Financial Corp acquired a new position in Constellation Brands during the 3rd quarter valued at about $202,000. 75.68% of the stock is currently owned by institutional investors.
In other news, Director Barry A. Fromberg sold 2,005 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was 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 in the company, valued at $4,582,531.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.59% of the stock is owned by corporate insiders.
Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. research analysts expect that Constellation Brands, Inc. will post 8.53 EPS for the current fiscal year.
Constellation Brands announced that its Board of Directors has approved a share 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. Constellation Brands’s payout ratio is 25.27%.
Several research analysts recently issued reports on STZ shares. Credit Suisse Group upped their target price on Constellation Brands from $211.00 to $226.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Susquehanna Bancshares set a $207.00 target price on Constellation Brands and gave the company a “hold” rating in a research report on Monday, January 1st. Deutsche Bank assumed coverage on Constellation Brands in a research report on Wednesday, December 13th. They set a “buy” rating and a $244.00 target price on the stock. Wells Fargo & Co boosted their price target on Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Barclays assumed coverage on Constellation Brands in a research note on Wednesday, January 10th. They set an “overweight” rating and a $255.00 price target on the stock. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and an average target price of $237.77.
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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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