Constellation Brands, Inc. (NYSE:STZ) Holdings Boosted by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 14.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 61,593 shares of the company’s stock after purchasing an additional 7,808 shares during the period. Cibc World Markets Corp’s holdings in Constellation Brands were worth $13,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Van ECK Associates Corp raised its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the period. Raymond James Financial Inc. purchased a new position in Constellation Brands during the 4th quarter valued at about $105,766,000. State Street Corp increased its holdings in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the period. Amundi boosted its holdings in shares of Constellation Brands by 54.9% during the fourth quarter. Amundi now owns 453,180 shares of the company’s stock worth $99,373,000 after purchasing an additional 160,563 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $31,656,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

STZ opened at $183.53 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average price is $179.79 and its two-hundred day moving average price is $218.70. The firm has a market capitalization of $33.17 billion, a P/E ratio of 49.34, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is presently 108.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen cut their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Roth Capital dropped their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a report on Monday, January 27th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average target price of $252.81.

Insider Buying and Selling

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 12.19% of the stock is owned by company insiders.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.