FormulaFolio Investments LLC purchased a new position in Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,821 shares of the company’s stock, valued at approximately $618,000.
Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Constellation Brands by 14.6% in the fourth quarter. JPMorgan Chase & Co. now owns 7,120,717 shares of the company’s stock valued at $1,559,794,000 after purchasing an additional 908,033 shares during the period. Norges Bank purchased a new stake in shares of Constellation Brands in the fourth quarter valued at $365,957,000. Nuveen Asset Management LLC grew its position in shares of Constellation Brands by 4.6% in the fourth quarter. Nuveen Asset Management LLC now owns 882,806 shares of the company’s stock valued at $193,378,000 after purchasing an additional 38,996 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Constellation Brands by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 836,594 shares of the company’s stock valued at $183,256,000 after purchasing an additional 8,464 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Constellation Brands by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 746,730 shares of the company’s stock valued at $163,565,000 after purchasing an additional 12,494 shares during the period. 71.90% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Argus lifted their price objective on Constellation Brands from $230.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, January 8th. Smith Barney Citigroup boosted their price target on Constellation Brands from $220.00 to $244.00 in a research report on Friday, January 8th. Jefferies Financial Group boosted their price target on Constellation Brands from $276.00 to $300.00 and gave the company a “buy” rating in a research report on Monday. MKM Partners raised Constellation Brands from a “sell” rating to a “neutral” rating and boosted their price target for the company from $154.00 to $210.00 in a research report on Friday, January 8th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Constellation Brands from $220.00 to $244.00 in a research report on Friday, January 8th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $237.30.
Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, January 6th. The company reported $3.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.68. Constellation Brands had a return on equity of 16.09% and a net margin of 21.63%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm posted $2.14 earnings per share. The company’s revenue was up 22.5% compared to the same quarter last year. On average, equities research analysts predict that Constellation Brands, Inc. will post 9.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 23rd. Stockholders of record on Tuesday, February 9th were given a $0.75 dividend. The ex-dividend date of this dividend was Monday, February 8th. This represents a $3.00 annualized dividend and a dividend yield of 1.28%. Constellation Brands’s payout ratio is 10.20%.
In other news, EVP Robert Lee Hanson sold 6,101 shares of Constellation Brands stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $228.78, for a total value of $1,395,786.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.77% of the stock is currently owned by company insiders.
Constellation Brands Profile
Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.
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