Aviance Capital Partners LLC Buys 855 Shares of Constellation Brands, Inc. (STZ)
Aviance Capital Partners LLC increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.5% in the fourth quarter, HoldingsChannel reports. The firm owned 12,248 shares of the company’s stock after buying an additional 855 shares during the quarter. Constellation Brands makes up approximately 0.9% of Aviance Capital Partners LLC’s holdings, making the stock its 20th biggest holding. Aviance Capital Partners LLC’s holdings in Constellation Brands were worth $2,799,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of STZ. Bessemer Group Inc. increased its position in Constellation Brands by 153.1% during the 4th quarter. Bessemer Group Inc. now owns 529 shares of the company’s stock worth $121,000 after purchasing an additional 320 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Constellation Brands during the 4th quarter worth about $134,000. Trustcore Financial Services LLC purchased a new stake in Constellation Brands during the 4th quarter worth about $142,000. Valeo Financial Advisors LLC purchased a new stake in Constellation Brands during the 3rd quarter worth about $153,000. Finally, Calton & Associates Inc. purchased a new stake in Constellation Brands during the 4th quarter worth about $153,000. Hedge funds and other institutional investors own 75.68% of the company’s stock.
A number of analysts recently commented on STZ shares. Royal Bank of Canada reiterated a “buy” rating and set a $226.00 price objective on shares of Constellation Brands in a research report on Sunday, November 12th. Zacks Investment Research upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a research report on Monday, December 18th. Deutsche Bank started coverage on Constellation Brands in a research report on Wednesday, December 13th. They set a “buy” rating and a $244.00 price objective for the company. Wells Fargo & Co lifted their price objective on Constellation Brands from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Credit Suisse Group lifted their price objective on Constellation Brands from $211.00 to $226.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $237.77.
Constellation Brands, Inc. (NYSE:STZ) opened at $219.84 on Monday. The firm has a market capitalization of $42,790.00, a PE ratio of 26.71, a PEG ratio of 1.19 and a beta of 0.14. Constellation Brands, Inc. has a 52 week low of $155.11 and a 52 week 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 (NYSE:STZ) last released its quarterly earnings data on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.87 billion. Constellation Brands had a return on equity of 22.04% and a net margin of 22.55%. During the same period in the previous year, the company posted $1.96 EPS. sell-side analysts anticipate that Constellation Brands, Inc. will post 8.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, February 8th. Constellation Brands’s dividend payout ratio is currently 25.27%.
Constellation Brands declared that its board has authorized a stock repurchase plan on Friday, January 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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