Burns J W & Co. Inc. NY boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 24.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,004 shares of the company’s stock after purchasing an additional 1,579 shares during the period. Burns J W & Co. Inc. NY’s holdings in Constellation Brands were worth $1,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its position in Constellation Brands by 12.9% in the third quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock worth $634,000 after buying an additional 362 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Constellation Brands by 12.2% in the third quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock valued at $13,000,000 after purchasing an additional 7,086 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Constellation Brands in the third quarter valued at $706,000. Achmea Investment Management B.V. grew its position in shares of Constellation Brands by 88.1% in the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock valued at $1,808,000 after purchasing an additional 4,377 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new position in shares of Constellation Brands in the third quarter valued at $204,000. 74.96% of the stock is owned by institutional investors and hedge funds.
Constellation Brands, Inc. (NYSE:STZ) traded up $1.46 during trading hours on Wednesday, reaching $219.22. The company had a trading volume of 1,898,392 shares, compared to its average volume of 3,631,770. The company has a market capitalization of $42,950.00, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.34 and a beta of 0.08. Constellation Brands, Inc. has a 12 month low of $146.99 and a 12 month high of $229.50. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01.
Constellation Brands announced that its Board of Directors has initiated a stock buyback program on Friday, January 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 8th. Constellation Brands’s dividend payout ratio (DPR) is currently 11.30%.
In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.59% of the company’s stock.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Pivotal Research lifted their price target on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $193.00 price target (up from $169.00) on shares of Constellation Brands in a research report on Monday, October 2nd. SunTrust Banks reiterated a “buy” rating and issued a $230.00 price target on shares of Constellation Brands in a research report on Friday, October 6th. Finally, Evercore ISI lifted their price target on Constellation Brands from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Constellation Brands has an average rating of “Buy” and a consensus price target of $229.00.
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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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