NuWave Investment Management LLC boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 35,140.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,048 shares of the company’s stock after purchasing an additional 7,028 shares during the period. Constellation Brands comprises approximately 1.9% of NuWave Investment Management LLC’s holdings, making the stock its largest position. NuWave Investment Management LLC’s holdings in Constellation Brands were worth $1,134,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Truewealth LLC increased its holdings in Constellation Brands by 467.9% in the fourth quarter. Truewealth LLC now owns 159 shares of the company’s stock valued at $26,000 after buying an additional 131 shares during the last quarter. City Holding Co. bought a new position in shares of Constellation Brands in the fourth quarter worth about $31,000. Carroll Financial Associates Inc. raised its stake in shares of Constellation Brands by 132.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 283 shares of the company’s stock worth $48,000 after purchasing an additional 161 shares during the period. Ipswich Investment Management Co. Inc. bought a new stake in Constellation Brands in the fourth quarter valued at approximately $72,000. Finally, Dubuque Bank & Trust Co. raised its stake in shares of Constellation Brands by 339.7% in 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 73.88% of the company’s stock.
In other Constellation Brands news, Director Barry A. Fromberg sold 810 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $173.05, for a total value of $140,170.50. Following the completion of the transaction, the director now owns 20,550 shares in the company, valued at $3,556,177.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.80% of the stock is owned by corporate insiders.
Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.33. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.91 billion. Constellation Brands had a return on equity of 17.62% and a net margin of 35.27%. Constellation Brands’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $2.00 earnings per share. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 9.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 12th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, February 11th. Constellation Brands’s dividend payout ratio is presently 10.67%.
A number of brokerages recently weighed in on STZ. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Friday, December 7th. Morgan Stanley set a $233.00 price objective on Constellation Brands and gave the stock a “buy” rating in a research report on Thursday. ValuEngine downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. SunTrust Banks restated a “hold” rating on shares of Constellation Brands in a research report on Thursday, January 10th. Finally, Macquarie set a $192.00 price objective on shares of Constellation Brands and gave the stock a “hold” rating in a report on Sunday, December 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $227.42.
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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. 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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