Tower Research Capital LLC TRC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 830.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,053 shares of the company’s stock after acquiring an additional 2,725 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Constellation Brands were worth $698,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Wedbush Securities Inc. lifted its position in shares of 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 acquiring an additional 362 shares during the period. Toronto Dominion Bank lifted its position in shares of Constellation Brands by 12.2% during the 3rd quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock worth $13,000,000 after buying an additional 7,086 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth $706,000. Achmea Investment Management B.V. lifted its position in shares of Constellation Brands by 88.1% during the 2nd quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock worth $1,808,000 after buying an additional 4,377 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth $204,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.
Several analysts recently weighed in on STZ shares. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Deutsche Bank started coverage on Constellation Brands in a research report on Wednesday, December 13th. They set a “buy” rating and a $244.00 price objective for the company. Susquehanna Bancshares set a $207.00 price objective on Constellation Brands and gave the stock a “hold” rating in a research report on Monday, January 1st. Macquarie upped their price objective on Constellation Brands from $246.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Co upped their price objective on Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $237.77.
Constellation Brands, Inc. (NYSE STZ) traded down $0.75 during trading on Wednesday, reaching $227.39. The company’s stock had a trading volume of 672,196 shares, compared to its average volume of 1,680,000. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $44,320.00, a P/E ratio of 27.63, a PEG ratio of 1.24 and a beta of 0.14. Constellation Brands, Inc. has a 1 year low of $157.51 and a 1 year high of $231.83.
Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.87 by $0.13. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate 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 earnings per share. equities research analysts forecast that Constellation Brands, Inc. will post 8.54 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.91%. Constellation Brands’s payout ratio is 11.30%.
Constellation Brands announced that its Board of Directors has authorized a stock repurchase plan on Friday, January 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Barry A. Fromberg sold 2,005 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total value of $441,942.10. Following the completion of the sale, the director now owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 15.59% of the company’s stock.
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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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