Boothe Investment Group Inc. lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.7% in the 1st quarter, Holdings Channel reports. The fund owned 30,900 shares of the company’s stock after buying an additional 2,217 shares during the period. Constellation Brands comprises 4.1% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 9th biggest holding. Boothe Investment Group Inc.’s holdings in Constellation Brands were worth $7,045,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in STZ. First Trust Advisors LP grew its position in Constellation Brands by 4.6% in the 1st quarter. First Trust Advisors LP now owns 18,870 shares of the company’s stock valued at $3,308,000 after buying an additional 833 shares in the last quarter. Engineers Gate Manager LP grew its position in Constellation Brands by 28.9% in the 3rd quarter. Engineers Gate Manager LP now owns 5,253 shares of the company’s stock valued at $995,000 after buying an additional 1,178 shares in the last quarter. Peapack Gladstone Financial Corp grew its position in Constellation Brands by 63.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 11,642 shares of the company’s stock valued at $2,206,000 after buying an additional 4,506 shares in the last quarter. Nuveen Asset Management LLC grew its position in Constellation Brands by 30.6% in the 3rd quarter. Nuveen Asset Management LLC now owns 843,810 shares of the company’s stock valued at $159,910,000 after buying an additional 197,819 shares in the last quarter. Finally, Eudaimonia Partners LLC bought a new position in Constellation Brands in the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 71.90% of the company’s stock.
In related news, EVP Robert Lee Hanson sold 6,101 shares of the stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $228.78, for a total value of $1,395,786.78. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.77% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on STZ. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of Constellation Brands from $220.00 to $244.00 in a research report on Friday, January 8th. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 price target for the company. in a report on Monday, January 11th. UBS Group upped their price target on shares of Constellation Brands from $238.00 to $256.00 and gave the company a “buy” rating in a report on Friday, January 8th. Wells Fargo & Company upped their price target on shares of Constellation Brands from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 8th. Finally, MKM Partners raised shares of Constellation Brands from a “sell” rating to a “neutral” rating and upped their price target for the company from $154.00 to $210.00 in a report on Friday, January 8th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $237.30.
Shares of STZ traded down $9.96 during trading hours on Thursday, reaching $224.98. The company’s stock had a trading volume of 116,232 shares, compared to its average volume of 1,154,297. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 3.15 and a beta of 1.12. Constellation Brands, Inc. has a 1-year low of $149.01 and a 1-year high of $242.62. The company has a quick ratio of 1.01, a current ratio of 1.69 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $226.59 and a two-hundred day moving average of $210.15.
Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, January 6th. The company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.68. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $1.91 billion. Constellation Brands had a return on equity of 16.09% and a net margin of 21.63%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.14 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 9.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 18th. Stockholders of record on Tuesday, May 4th will be issued a $0.76 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.35%. Constellation Brands’s dividend payout ratio is currently 10.20%.
Constellation Brands Company Profile
Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.
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