Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,163 shares of the company’s stock after purchasing an additional 2,092 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Constellation Brands were worth $9,866,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of STZ. Arrowstreet Capital Limited Partnership raised its position 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 worth $270,612,000 after purchasing an additional 1,173,637 shares during the last quarter. Egerton Capital UK LLP raised its position in Constellation Brands by 13.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,071,057 shares of the company’s stock worth $612,522,000 after purchasing an additional 353,490 shares during the last quarter. KAMES CAPITAL plc raised its position in Constellation Brands by 3,223.4% in the 4th quarter. KAMES CAPITAL plc now owns 326,658 shares of the company’s stock worth $74,671,000 after purchasing an additional 316,829 shares during the last quarter. Truepoint Inc. bought a new position in Constellation Brands in the 3rd quarter worth approximately $294,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Constellation Brands by 501.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 200,770 shares of the company’s stock worth $40,212,000 after purchasing an additional 167,385 shares during the last quarter. Hedge funds and other institutional investors own 74.55% of the company’s stock.
STZ has been the subject of several research analyst reports. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Deutsche Bank assumed coverage on shares of Constellation Brands in a research report on Wednesday, December 13th. They set a “buy” rating and a $244.00 target price for the company. Susquehanna Bancshares set a $207.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research report on Monday, January 1st. Macquarie upped their target price on shares of Constellation Brands from $246.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Co upped their target price on shares of Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $237.77.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business earned $1.96 EPS. sell-side analysts expect that Constellation Brands, Inc. will post 8.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Thursday, February 8th. Constellation Brands’s dividend payout ratio (DPR) is 11.30%.
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 purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other news, Director Barry A. Fromberg sold 2,005 shares of the business’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 completion of the transaction, the director now owns 20,790 shares of the company’s stock, valued at approximately $4,582,531.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.59% of the stock is owned by insiders.
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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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