Nomura Asset Management Co. Ltd. lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,755 shares of the company’s stock after purchasing an additional 473 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Constellation Brands were worth $7,945,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of Constellation Brands by 153.1% in the fourth quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after purchasing an additional 320 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Constellation Brands in the fourth quarter worth about $134,000. Trustcore Financial Services LLC bought a new position in shares of Constellation Brands in the fourth quarter worth about $142,000. Valeo Financial Advisors LLC bought a new position in shares of Constellation Brands in the third quarter worth about $153,000. Finally, Calton & Associates Inc. bought a new position in shares of Constellation Brands in the fourth quarter worth about $153,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of the 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 accessible through this link. Corporate insiders own 15.59% of the company’s stock.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.13. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same period in the prior year, the firm posted $1.96 earnings per share. equities research analysts predict that Constellation Brands, Inc. will post 8.53 EPS for the current year.
Constellation Brands declared that its board has initiated a stock buyback plan on Friday, January 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, February 8th. Constellation Brands’s payout ratio is 22.66%.
STZ has been the topic of a number of research analyst reports. Credit Suisse Group upped their price target on shares of Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Susquehanna Bancshares set a $207.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a research note on Monday, January 1st. Deutsche Bank began coverage on shares of Constellation Brands in a research note on Wednesday, December 13th. They issued a “buy” rating and a $244.00 price objective for the company. Wells Fargo & Co upped their price objective on shares of Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, Barclays began coverage on shares of Constellation Brands in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 price objective for the company. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $237.77.
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About Constellation Brands
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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