Lake Street Advisors Group LLC bought a new position in Constellation Brands (NYSE:STZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,102 shares of the company’s stock, valued at approximately $252,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. MAI Capital Management raised its holdings in shares of Constellation Brands by 4.6% in the 4th quarter. MAI Capital Management now owns 5,742 shares of the company’s stock worth $1,312,000 after buying an additional 254 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX increased its holdings in Constellation Brands by 9.9% during the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,855 shares of the company’s stock valued at $653,000 after purchasing an additional 258 shares in the last quarter. First Personal Financial Services increased its holdings in Constellation Brands by 20.7% during the 4th quarter. First Personal Financial Services now owns 1,530 shares of the company’s stock valued at $350,000 after purchasing an additional 262 shares in the last quarter. Schroder Investment Management Group increased its holdings in Constellation Brands by 17.0% during the 4th quarter. Schroder Investment Management Group now owns 1,849 shares of the company’s stock valued at $423,000 after purchasing an additional 268 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its holdings in Constellation Brands by 8.0% during the 4th quarter. First Allied Advisory Services Inc. now owns 3,743 shares of the company’s stock valued at $860,000 after purchasing an additional 278 shares in the last quarter. 74.53% of the stock is owned by institutional investors and hedge funds.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total value of $441,942.10. Following the transaction, the director now directly owns 20,790 shares in the company, valued at approximately $4,582,531.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.59% of the stock is currently owned by company insiders.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.13. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.87 billion. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. During the same period last year, the company earned $1.96 EPS. equities research analysts predict that Constellation Brands will post 8.54 earnings per share for the current fiscal year.
Constellation Brands declared that its Board of Directors has approved a share buyback plan on Friday, January 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.52 dividend. 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 0.94%. Constellation Brands’s payout ratio is 22.66%.
A number of research firms recently weighed in on STZ. Evercore ISI raised their price target on Constellation Brands from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Deutsche Bank raised their price target on Constellation Brands from $253.00 to $256.00 and gave the company a “buy” rating in a report on Friday. Vetr raised Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price target for the company in a report on Monday, February 12th. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $250.00 price target (up from $230.00) on shares of Constellation Brands in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $238.34.
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 offers beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, and Pacifico brands; wine under the Black Box, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Meiomi, Mount Veeder, Nobilo, Robert Mondavi, Ruffino, Saved, Simi, The Dreaming Tree, The Prisoner, Charles Smith, and Wild Horse brands; and sprits under the SVEDKA vodka, Black Velvet Canadian whisky, Casa Noble tequila, High West craft whisky brands.
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