Cetera Advisor Networks LLC boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 40.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,081 shares of the company’s stock after purchasing an additional 2,606 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Constellation Brands were worth $1,597,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of STZ. HC Financial Advisors Inc. boosted its stake in Constellation Brands by 11.7% in the third quarter. HC Financial Advisors Inc. now owns 5,810 shares of the company’s stock valued at $1,253,000 after acquiring an additional 610 shares in the last quarter. Legal & General Group Plc boosted its stake in Constellation Brands by 1.0% in the third quarter. Legal & General Group Plc now owns 627,903 shares of the company’s stock valued at $135,388,000 after acquiring an additional 5,975 shares in the last quarter. Vanguard Group Inc boosted its stake in Constellation Brands by 0.3% in the third quarter. Vanguard Group Inc now owns 12,013,148 shares of the company’s stock valued at $2,590,276,000 after acquiring an additional 30,782 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $72,000. Finally, Dubuque Bank & Trust Co. lifted its stake in shares of Constellation Brands by 339.7% during the fourth quarter. Dubuque Bank & Trust Co. now owns 510 shares of the company’s stock worth $82,000 after buying an additional 394 shares during the period. Hedge funds and other institutional investors own 74.05% of the company’s stock.
Shares of Constellation Brands stock opened at $205.33 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.16 and a quick ratio of 0.49. Constellation Brands, Inc. has a 1 year low of $150.37 and a 1 year high of $234.26. The firm has a market cap of $39.40 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.75 and a beta of 0.54.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio (DPR) is 10.02%.
In related news, EVP David Eric Klein sold 25,980 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $198.66, for a total transaction of $5,161,186.80. Following the completion of the transaction, the executive vice president now owns 69,852 shares of the company’s stock, valued at $13,876,798.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barry A. Fromberg sold 1,500 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the transaction, the director now directly owns 18,240 shares of the company’s stock, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,551 shares of company stock valued at $6,007,002. 15.80% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on the stock. Deutsche Bank downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $191.00 to $194.00 in a research note on Friday, April 5th. Credit Suisse Group assumed coverage on shares of Constellation Brands in a research note on Wednesday, March 6th. They set an “outperform” rating and a $230.00 price objective for the company. Zacks Investment Research upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Morgan Stanley upgraded shares of Constellation Brands to a “hold” rating in a research note on Friday, April 5th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Constellation Brands in a research note on Thursday, February 21st. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $223.13.
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Constellation Brands Company 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. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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