Constellation Brands, Inc. (STZ) Shares Bought by New Mexico Educational Retirement Board
New Mexico Educational Retirement Board grew its position in Constellation Brands, Inc. (NYSE:STZ) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,571 shares of the company’s stock after buying an additional 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Constellation Brands were worth $3,788,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in STZ. Bessemer Group Inc. grew 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 valued at $121,000 after buying an additional 320 shares during the period. Cerebellum GP LLC acquired a new position in shares of Constellation Brands in the 4th quarter valued at $134,000. Valeo Financial Advisors LLC acquired a new position in shares of Constellation Brands in the 3rd quarter valued at $153,000. Calton & Associates Inc. acquired a new position in shares of Constellation Brands in the 4th quarter valued at $153,000. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $157,000. 75.36% of the stock is owned by institutional investors.
In other 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 transaction, the director now directly owns 20,790 shares in the company, valued at approximately $4,582,531.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 15.59% of the company’s stock.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 5th. The company reported $2.00 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.13. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $1.96 EPS. research analysts anticipate that Constellation Brands, Inc. will post 8.53 earnings per share for the current year.
Constellation Brands declared that its board has approved a share buyback program on Friday, January 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.97%. Constellation Brands’s dividend payout ratio is 22.66%.
Several brokerages have recently issued reports on STZ. Vetr raised shares of 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 5th. BMO Capital Markets began coverage on shares of Constellation Brands in a research note on Monday, February 5th. They issued an “outperform” rating and a $275.00 target price for the company. Evercore ISI upped their target price on shares of Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Susquehanna Bancshares set a $207.00 target price on shares of Constellation Brands and gave the stock a “hold” rating in a research note on Monday, January 1st. 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 target price for the company. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $237.77.
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Constellation Brands Company 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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