Fort L.P. Increases Holdings in Constellation Brands, Inc. (STZ)
Fort L.P. raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 91.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,120 shares of the company’s stock after buying an additional 1,013 shares during the period. Fort L.P.’s holdings in Constellation Brands were worth $341,000 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. We Are One Seven LLC acquired a new stake in Constellation Brands during the 4th quarter valued at $32,000. Independent Advisor Alliance lifted its holdings in Constellation Brands by 14.1% during the 3rd quarter. Independent Advisor Alliance now owns 14,787 shares of the company’s stock valued at $2,322,000 after purchasing an additional 1,825 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Constellation Brands by 73.9% during the 3rd quarter. Clearbridge Investments LLC now owns 17,126 shares of the company’s stock valued at $3,693,000 after purchasing an additional 7,275 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Constellation Brands by 11.2% during the 4th quarter. Prudential Financial Inc. now owns 212,095 shares of the company’s stock valued at $34,109,000 after purchasing an additional 21,321 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in Constellation Brands by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after purchasing an additional 30,782 shares during the last quarter. 72.57% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE STZ opened at $170.61 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.43 and a debt-to-equity ratio of 1.02. Constellation Brands, Inc. has a 52 week low of $150.37 and a 52 week high of $236.62. The firm has a market capitalization of $32.39 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.99 and a beta of 0.45.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 26th. Investors of record on Tuesday, February 12th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, February 11th. Constellation Brands’s payout ratio is currently 10.67%.
In related news, Director Barry A. Fromberg sold 1,500 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $174.72, for a total value of $262,080.00. Following the transaction, the director now owns 18,240 shares in the company, valued at $3,186,892.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry A. Fromberg sold 810 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $173.05, for a total value of $140,170.50. Following the completion of the transaction, the director now owns 20,550 shares in the company, valued at approximately $3,556,177.50. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on STZ shares. Goldman Sachs Group raised Constellation Brands from a “neutral” rating to a “buy” rating and set a $211.00 target price for the company in a report on Thursday, January 10th. Pivotal Research reissued a “buy” rating and set a $265.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Wednesday, January 9th. Jefferies Financial Group reissued a “buy” rating and set a $289.00 target price on shares of Constellation Brands in a report on Friday, December 7th. Wells Fargo & Co reissued an “outperform” rating and set a $235.00 target price (down previously from $260.00) on shares of Constellation Brands in a report on Thursday, January 10th. Finally, HSBC raised Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, January 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $227.52.
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 provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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