Teachers Retirement System of The State of Kentucky raised its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 129.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,065 shares of the company's stock after acquiring an additional 15,840 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Constellation Brands were worth $3,871,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth about $39,000. M&T Bank Corp boosted its position in Constellation Brands by 63.1% in the fourth quarter. M&T Bank Corp now owns 29,120 shares of the company's stock valued at $4,017,000 after buying an additional 11,269 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Constellation Brands by 18.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,856 shares of the company's stock valued at $12,290,000 after buying an additional 13,814 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Constellation Brands during the fourth quarter worth about $302,000. Finally, Davidson Investment Advisors increased its holdings in shares of Constellation Brands by 2.4% during the fourth quarter. Davidson Investment Advisors now owns 116,883 shares of the company's stock worth $16,125,000 after buying an additional 2,722 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on STZ shares. Wells Fargo & Company lifted their target price on shares of Constellation Brands from $180.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. UBS Group increased their price target on Constellation Brands from $176.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Evercore set a $175.00 price target on Constellation Brands and gave the company an "outperform" rating in a report on Friday, April 10th. BMO Capital Markets reissued an "outperform" rating and issued a $190.00 price objective on shares of Constellation Brands in a research note on Friday, January 9th. Finally, Weiss Ratings upgraded Constellation Brands from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and an average price target of $178.14.
Check Out Our Latest Analysis on STZ
Constellation Brands Price Performance
Shares of STZ stock opened at $155.34 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $26.94 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 3.42 and a beta of 1.75. The firm's 50 day moving average is $154.69 and its 200-day moving average is $147.48. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $196.91.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company posted $2.63 EPS. Constellation Brands's revenue was down 11.3% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.
Constellation Brands Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be given a dividend of $1.03 per share. The ex-dividend date is Wednesday, April 29th. This is an increase from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. Constellation Brands's dividend payout ratio is presently 42.96%.
About Constellation Brands
(
Free Report)
Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.
The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.
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