First Republic Investment Management Inc. raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.1% in the 4th quarter, Holdings Channel reports. The firm owned 195,153 shares of the company’s stock after buying an additional 16,350 shares during the period. First Republic Investment Management Inc.’s holdings in Constellation Brands were worth $44,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Wedbush Securities Inc. lifted its holdings in Constellation Brands by 12.9% during the 3rd quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock valued at $634,000 after purchasing an additional 362 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Constellation Brands by 12.2% during the 3rd 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 during the last quarter. Americafirst Capital Management LLC acquired a new stake in Constellation Brands during the 3rd quarter valued at $706,000. Achmea Investment Management B.V. lifted its holdings in Constellation Brands by 88.1% during the 2nd 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 during the last quarter. Finally, AXA lifted its holdings in Constellation Brands by 11.5% during the 3rd quarter. AXA now owns 131,902 shares of the company’s stock valued at $26,308,000 after purchasing an additional 13,570 shares during the last quarter. 75.68% of the stock is owned by institutional investors and hedge funds.
Constellation Brands, Inc. (NYSE STZ) opened at $217.33 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $42,729.11, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 1.35 and a beta of 0.11. Constellation Brands, Inc. has a 12-month low of $153.28 and a 12-month high of $229.50.
Constellation Brands declared that its Board of Directors has approved a share buyback program on Friday, January 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, February 8th. Constellation Brands’s payout ratio is currently 22.66%.
In related news, Director Barry A. Fromberg sold 2,005 shares of the firm’s 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 owns 20,790 shares in the company, valued at $4,582,531.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.59% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on STZ shares. Credit Suisse Group raised their price target on 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 price target on Constellation Brands and gave the company a “hold” rating in a report on Monday, January 1st. Deutsche Bank started coverage on Constellation Brands in a report on Wednesday, December 13th. They set a “buy” rating and a $244.00 price target for the company. Wells Fargo & Co raised their price target on 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 Constellation Brands in a report on Wednesday, January 10th. They set an “overweight” rating and a $255.00 price target for the company. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Constellation Brands presently has an average rating of “Buy” and an average price target of $237.77.
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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