Nippon Life Global Investors Americas Inc. acquired a new stake in Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,360 shares of the company’s stock, valued at approximately $2,825,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Egerton Capital UK LLP grew its holdings in shares of Constellation Brands by 13.0% during the third quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after buying an additional 353,490 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Constellation Brands by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,682,164 shares of the company’s stock valued at $383,615,000 after purchasing an additional 88,681 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Constellation Brands by 11,394.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,183,937 shares of the company’s stock valued at $270,612,000 after purchasing an additional 1,173,637 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Constellation Brands by 11.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 857,830 shares of the company’s stock valued at $171,094,000 after purchasing an additional 84,876 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Constellation Brands by 0.9% in the 4th quarter. Swiss National Bank now owns 772,716 shares of the company’s stock valued at $176,620,000 after purchasing an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of the firm’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.59% of the company’s stock.
A number of research firms have recently issued reports on STZ. Zacks Investment Research downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Tuesday. Vetr upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price objective for the company in a research report on Monday, February 12th. BMO Capital Markets assumed coverage on Constellation Brands in a report on Monday, February 5th. They issued an “outperform” rating and a $275.00 price target for the company. Barclays assumed coverage on Constellation Brands in a report on Wednesday, January 10th. They issued an “overweight” rating and a $255.00 price target for the company. Finally, Credit Suisse Group boosted 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus target price of $237.77.
Shares of Constellation Brands, Inc. (STZ) traded down $0.55 during trading hours on Wednesday, reaching $227.39. 672,196 shares of the company were exchanged, compared to its average volume of 1,680,000. The company has a market capitalization of $44,320.00, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.14. Constellation Brands, Inc. has a 1 year low of $157.51 and a 1 year high of $231.83. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01.
Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. research analysts predict that Constellation Brands, Inc. will post 8.54 earnings per share for the current fiscal year.
Constellation Brands declared that its Board of Directors has authorized a share buyback program on Friday, January 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.91%. Constellation Brands’s payout ratio is presently 11.30%.
WARNING: This news story was published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.thelincolnianonline.com/2018/03/14/nippon-life-global-investors-americas-inc-purchases-shares-of-12360-constellation-brands-inc-stz.html.
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.
Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.