Grandview Asset Management LLC acquired a new stake in Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, Holdings Channel reports. The fund acquired 1,887 shares of the company’s stock, valued at approximately $304,000.
Several other hedge funds also recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Constellation Brands by 7.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,905 shares of the company’s stock valued at $467,000 after buying an additional 200 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Constellation Brands by 3.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,374 shares of the company’s stock valued at $1,025,000 after purchasing an additional 200 shares in the last quarter. Exane Asset Management increased its stake in shares of Constellation Brands by 379.6% in the 4th quarter. Exane Asset Management now owns 1,151 shares of the company’s stock valued at $185,000 after purchasing an additional 911 shares in the last quarter. Comerica Securities Inc. increased its stake in shares of Constellation Brands by 7.7% in the 4th quarter. Comerica Securities Inc. now owns 4,330 shares of the company’s stock valued at $696,000 after purchasing an additional 310 shares in the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $1,172,000. 73.88% of the stock is owned by institutional investors and hedge funds.
In other Constellation Brands news, Director Barry A. Fromberg sold 810 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $173.05, for a total transaction 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 document filed with the SEC, which is available through this link. 15.80% of the stock is currently owned by insiders.
NYSE:STZ opened at $174.73 on Monday. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $236.62. The company has a quick ratio of 0.43, a current ratio of 1.08 and a debt-to-equity ratio of 1.02. The company has a market cap of $33.27 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.09 and a beta of 0.48.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, January 9th. The company reported $2.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.33. Constellation Brands had a return on equity of 17.62% and a net margin of 35.27%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business earned $2.00 EPS. Constellation Brands’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 9.2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th will be paid a dividend of $0.74 per share. The ex-dividend date 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 currently 33.94%.
Several equities analysts recently weighed in on the company. Zacks Investment Research lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Friday, December 7th. ValuEngine lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. SunTrust Banks restated a “hold” rating on shares of Constellation Brands in a research note on Thursday, January 10th. Macquarie set a $192.00 price target on Constellation Brands and gave the company a “hold” rating in a research note on Sunday, December 23rd. Finally, UBS Group assumed coverage on Constellation Brands in a research note on Thursday, December 13th. They issued a “neutral” rating and a $209.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $226.81.
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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 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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