Newbrook Capital Advisors LP reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 496,210 shares of the company’s stock after selling 72,556 shares during the period. Constellation Brands makes up approximately 7.6% of Newbrook Capital Advisors LP’s investment portfolio, making the stock its 3rd biggest holding. Newbrook Capital Advisors LP owned 0.25% of Constellation Brands worth $113,419,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Constellation Brands by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,682,164 shares of the company’s stock worth $383,615,000 after purchasing an additional 88,681 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Constellation Brands by 11,394.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,183,937 shares of the company’s stock worth $270,612,000 after purchasing an additional 1,173,637 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Constellation Brands by 11.0% during the third quarter. Westfield Capital Management Co. LP now owns 857,830 shares of the company’s stock worth $171,094,000 after purchasing an additional 84,876 shares during the last quarter. Swiss National Bank raised its holdings in shares of Constellation Brands by 0.9% during the fourth quarter. Swiss National Bank now owns 772,716 shares of the company’s stock worth $176,620,000 after purchasing an additional 6,800 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Constellation Brands by 2.7% during the third quarter. Legal & General Group Plc now owns 695,418 shares of the company’s stock worth $138,703,000 after purchasing an additional 18,400 shares during the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
STZ has been the subject of several recent research reports. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 target price for the company in a report on Monday, December 18th. Deutsche Bank began coverage on shares of Constellation Brands in a report on Wednesday, December 13th. They issued a “buy” rating and a $244.00 price objective for the company. Wells Fargo & Co lifted their price objective 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. Vetr raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price objective for the company in a report on Monday, February 12th. Finally, Credit Suisse Group lifted their price objective 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. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $237.77.
Shares of Constellation Brands, Inc. (STZ) opened at $227.93 on Wednesday. The company has a market cap of $44,430.00, a PE ratio of 27.70, a PEG ratio of 1.24 and a beta of 0.14. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 1.40. Constellation Brands, Inc. has a one year low of $159.28 and a one year high of $231.83.
Constellation Brands (NYSE:STZ) last released 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. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations 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 company earned $1.96 earnings per share. research analysts forecast that Constellation Brands, Inc. will post 8.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.91%. Constellation Brands’s payout ratio is presently 11.30%.
Constellation Brands declared that its board has authorized a share repurchase program on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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