Marvin & Palmer Associates Inc. raised its stake in shares of Constellation Brands Inc (NYSE:STZ) by 27.7% during the third quarter, Holdings Channel reports. The fund owned 12,000 shares of the company’s stock after buying an additional 2,600 shares during the period. Marvin & Palmer Associates Inc.’s holdings in Constellation Brands were worth $1,998,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Cypress Capital Management LLC WY acquired a new stake in shares of Constellation Brands during the second quarter valued at approximately $1,124,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Constellation Brands by 110.0% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 140,359 shares of the company’s stock valued at $23,215,000 after buying an additional 73,508 shares during the last quarter. Scott & Selber Inc. acquired a new stake in shares of Constellation Brands during the second quarter valued at approximately $3,753,000. Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of Constellation Brands during the second quarter valued at approximately $471,000. Finally, Concert Wealth Management Inc. acquired a new stake in shares of Constellation Brands during the second quarter valued at approximately $300,000. 75.54% of the stock is currently owned by institutional investors.
Shares of Constellation Brands Inc (NYSE:STZ) opened at 155.45 on Monday. The stock has a market cap of $30.48 billion, a P/E ratio of 24.06 and a beta of 0.52. The company has a 50 day moving average price of $151.24 and a 200 day moving average price of $159.36. Constellation Brands Inc has a 12-month low of $135.81 and a 12-month high of $173.55.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, January 5th. The company reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.24. The company had revenue of $1.81 billion for the quarter. Constellation Brands had a return on equity of 19.07% and a net margin of 16.65%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. Analysts anticipate that Constellation Brands Inc will post $6.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Stockholders of record on Monday, January 9th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.03%. Constellation Brands’s dividend payout ratio (DPR) is presently 24.73%.
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Several analysts have commented on STZ shares. Bank of America Corporation lowered Constellation Brands from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $195.00 to $150.00 in a report on Wednesday, November 9th. Zacks Investment Research lowered Constellation Brands from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. RBC Capital Markets reissued a “buy” rating and issued a $183.00 price objective on shares of Constellation Brands in a report on Wednesday, November 16th. Finally, Susquehanna Bancshares Inc set a $160.00 price objective on Constellation Brands and gave the company a “hold” rating in a report on Tuesday, January 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Constellation Brands has a consensus rating of “Buy” and an average price target of $178.04.
In other news, VP F Paul Hetterich bought 752 shares of the company’s stock in a transaction that occurred on Friday, January 13th. The shares were purchased at an average price of $148.62 per share, with a total value of $111,762.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.63% of the company’s stock.
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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