California State Teachers Retirement System lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 269,414 shares of the company’s stock after selling 4,440 shares during the period. California State Teachers Retirement System owned 0.14% of Constellation Brands worth $61,580,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Bessemer Group Inc. lifted its holdings in Constellation Brands by 153.1% in the fourth quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock valued at $121,000 after buying an additional 320 shares during the period. Cerebellum GP LLC acquired a new position in Constellation Brands in the fourth quarter valued at $134,000. Trustcore Financial Services LLC acquired a new position in Constellation Brands in the fourth quarter valued at $142,000. Calton & Associates Inc. acquired a new position in Constellation Brands in the fourth quarter valued at $153,000. Finally, Valeo Financial Advisors LLC acquired a new position in Constellation Brands in the third quarter valued at $153,000. Institutional investors own 74.55% of the company’s stock.
Shares of Constellation Brands, Inc. (STZ) opened at $227.94 on Wednesday. Constellation Brands, Inc. has a 52 week low of $157.51 and a 52 week high of $231.83. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01. The firm has a market cap of $44,380.00, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.24 and a beta of 0.14.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, February 8th. Constellation Brands’s dividend payout ratio (DPR) is currently 25.27%.
Constellation Brands announced that its board has approved a stock repurchase program on Friday, January 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on STZ shares. Credit Suisse Group boosted their target price on shares of Constellation Brands from $211.00 to $226.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Susquehanna Bancshares set a $207.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a report on Monday, January 1st. Deutsche Bank started coverage on shares of Constellation Brands in a report on Wednesday, December 13th. They issued a “buy” rating and a $244.00 target price on the stock. Wells Fargo & Co boosted their target price on shares of Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Barclays started coverage on shares of Constellation Brands in a report on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $237.77.
In other news, Director Barry A. Fromberg sold 2,005 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the completion of the sale, the director now directly owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 15.59% of the company’s stock.
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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