33,925 Shares in Constellation Brands, Inc. (STZ) Acquired by Decatur Capital Management Inc.
Decatur Capital Management Inc. acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 33,925 shares of the company’s stock, valued at approximately $7,754,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedbush Securities Inc. boosted its stake in shares of Constellation Brands by 12.9% during the 3rd quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock worth $634,000 after acquiring an additional 362 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Constellation Brands by 12.2% during the 3rd quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock worth $13,000,000 after acquiring an additional 7,086 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth $706,000. Achmea Investment Management B.V. boosted its stake in shares of Constellation Brands by 88.1% during the 2nd quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock worth $1,808,000 after acquiring an additional 4,377 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth $204,000. 75.45% of the stock is owned by institutional investors and hedge funds.
Shares of Constellation Brands, Inc. (STZ) opened at $208.73 on Friday. The stock has a market capitalization of $41,697.15, a price-to-earnings ratio of 22.74, a PEG ratio of 1.32 and a beta of 0.11. Constellation Brands, Inc. has a 1-year low of $153.28 and a 1-year high of $229.50. The company has a quick ratio of 0.54, a current ratio of 1.40 and a debt-to-equity ratio of 1.01.
Constellation Brands announced that its Board of Directors has initiated a stock buyback program on Friday, January 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 1.00%. Constellation Brands’s dividend payout ratio is 10.13%.
In related news, Director Barry A. Fromberg sold 2,005 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $220.42, for a total transaction of $441,942.10. Following the completion of the sale, the director now directly owns 20,790 shares in the company, valued at $4,582,531.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 15.59% of the stock is currently owned by company insiders.
Several equities research analysts have recently weighed in on the company. Evercore ISI raised their price objective on Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. SunTrust Banks reissued a “buy” rating and set a $250.00 price objective (up from $230.00) on shares of Constellation Brands in a research note on Monday, January 8th. Vetr raised Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price objective for the company in a research note on Monday. Royal Bank of Canada reissued a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a research note on Sunday, November 12th. Finally, Zacks Investment Research raised Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a research note on Monday, December 18th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $237.77.
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About Constellation Brands
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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