Vectors Research Management LLC bought a new stake in Constellation Brands, Inc. (NYSE:STZ) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 972 shares of the company’s stock, valued at approximately $210,000.
A number of other institutional investors also recently modified their holdings of the business. HBK Sorce Advisory LLC increased its holdings in Constellation Brands by 1.9% in the third quarter. HBK Sorce Advisory LLC now owns 35,231 shares of the company’s stock valued at $7,596,000 after buying an additional 644 shares in the last quarter. Pacific Grove Capital LP acquired a new stake in shares of Constellation Brands in the third quarter valued at approximately $1,509,000. Point72 Hong Kong Ltd grew its position in shares of Constellation Brands by 2,297.9% in the third quarter. Point72 Hong Kong Ltd now owns 4,676 shares of the company’s stock valued at $1,008,000 after purchasing an additional 4,481 shares during the last quarter. Senator Investment Group LP grew its position in shares of Constellation Brands by 1.7% in the third quarter. Senator Investment Group LP now owns 1,408,534 shares of the company’s stock valued at $303,708,000 after purchasing an additional 24,034 shares during the last quarter. Finally, TLP Group LLC acquired a new stake in shares of Constellation Brands in the third quarter valued at approximately $136,000. 72.83% of the stock is owned by institutional investors.
Shares of NYSE STZ opened at $181.27 on Friday. Constellation Brands, Inc. has a 1 year low of $180.17 and a 1 year high of $236.62. The company has a market cap of $34.60 billion, a P/E ratio of 20.79, a PEG ratio of 1.77 and a beta of 0.05. The company has a current ratio of 1.66, a quick ratio of 0.76 and a debt-to-equity ratio of 0.80.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, November 5th. This represents a $2.96 dividend on an annualized basis and a yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is currently 33.94%.
STZ has been the topic of several research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $289.00 price target on shares of Constellation Brands in a research report on Wednesday, October 17th. Zacks Investment Research lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Morgan Stanley set a $259.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research report on Tuesday, October 16th. UBS Group lowered shares of Constellation Brands to a “neutral” rating in a research report on Monday, August 20th. Finally, Pivotal Research reiterated a “buy” rating and issued a $300.00 price target (up from $265.00) on shares of Constellation Brands in a research report on Friday, October 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $242.80.
In related news, CEO Robert Sands sold 151,060 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $223.67, for a total transaction of $33,787,590.20. Following the sale, the chief executive officer now owns 737,607 shares in the company, valued at $164,980,557.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard Sands sold 148,773 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $223.69, for a total transaction of $33,279,032.37. Following the sale, the chairman now owns 346,525 shares in the company, valued at approximately $77,514,177.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 578,723 shares of company stock worth $129,438,449. 15.80% of the stock is owned by company insiders.
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Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.
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