Icon Advisers Inc. Co. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 171.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,300 shares of the company’s stock after buying an additional 2,085 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Constellation Brands were worth $531,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in STZ. Independent Advisor Alliance grew its stake in Constellation Brands by 14.1% in the third quarter. Independent Advisor Alliance now owns 14,787 shares of the company’s stock valued at $2,322,000 after purchasing an additional 1,825 shares in the last quarter. We Are One Seven LLC bought a new position in Constellation Brands in the fourth quarter valued at approximately $32,000. Clearbridge Investments LLC grew its stake in Constellation Brands by 73.9% in the third quarter. Clearbridge Investments LLC now owns 17,126 shares of the company’s stock valued at $3,693,000 after purchasing an additional 7,275 shares in the last quarter. Vanguard Group Inc grew its stake in Constellation Brands by 0.3% in the third quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after purchasing an additional 30,782 shares in the last quarter. Finally, River Wealth Advisors LLC grew its stake in Constellation Brands by 14.7% in the third quarter. River Wealth Advisors LLC now owns 9,316 shares of the company’s stock valued at $2,009,000 after purchasing an additional 1,197 shares in the last quarter. 72.32% of the stock is currently owned by institutional investors and hedge funds.
STZ has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $289.00 price target on shares of Constellation Brands in a research note on Friday, December 7th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $222.00 price target for the company in a research note on Wednesday, December 5th. Morgan Stanley set a $259.00 price target on Constellation Brands and gave the company a “buy” rating in a research note on Tuesday, October 16th. ValuEngine upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Finally, HSBC upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $226.81.
In related news, Director Barry A. Fromberg sold 810 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $173.05, for a total value of $140,170.50. Following the completion of the sale, the director now directly owns 20,550 shares in the company, valued at approximately $3,556,177.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.80% of the company’s stock.
Shares of NYSE STZ opened at $175.22 on Friday. The company has a quick ratio of 0.43, a current ratio of 1.08 and a debt-to-equity ratio of 1.02. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $236.62. The company has a market cap of $33.05 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.08 and a beta of 0.48.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.33. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.91 billion. Constellation Brands had a return on equity of 17.62% and a net margin of 35.27%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS. On average, research analysts expect that Constellation Brands, Inc. will post 9.2 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Tuesday, February 12th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Monday, February 11th. This represents a $2.96 annualized dividend and a yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is presently 33.94%.
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Constellation Brands Profile
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 provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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