Traders Sell Constellation Brands (STZ) on Strength (STZ)
Investors sold shares of Constellation Brands, Inc. (NYSE:STZ) on strength during trading on Monday. $98.75 million flowed into the stock on the tick-up and $233.84 million flowed out of the stock on the tick-down, for a money net flow of $135.09 million out of the stock. Of all stocks tracked, Constellation Brands had the 16th highest net out-flow for the day. Constellation Brands traded up $2.75 for the day and closed at $213.01
Several analysts recently issued reports on STZ shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a research note on Sunday, November 12th. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a research note on Monday, December 18th. Deutsche Bank started coverage on shares of Constellation Brands in a research note on Wednesday, December 13th. They set 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 company an “outperform” rating in a research note on Thursday, January 4th. Finally, Credit Suisse Group upped their price objective on shares of Constellation Brands from $211.00 to $226.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $237.77.
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 company has a market cap of $41,360.00, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.11.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a $0.52 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.98%. Constellation Brands’s dividend payout ratio is currently 11.30%.
Constellation Brands declared that its Board of Directors has approved a stock repurchase program on Friday, January 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Barry A. Fromberg sold 2,005 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.59% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of Constellation Brands by 153.1% in the 4th quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after acquiring an additional 320 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $134,000. Trustcore Financial Services LLC acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $142,000. Valeo Financial Advisors LLC acquired a new position in shares of Constellation Brands in the 3rd quarter worth approximately $153,000. Finally, Calton & Associates Inc. acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $153,000. Hedge funds and other institutional investors own 75.36% 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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