Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,286 shares of the company’s stock, valued at approximately $528,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Truewealth LLC raised its position in Constellation Brands by 467.9% in the 4th quarter. Truewealth LLC now owns 159 shares of the company’s stock worth $26,000 after purchasing an additional 131 shares during the last quarter. City Holding Co. bought a new stake in shares of Constellation Brands during the 4th quarter valued at $31,000. Ledyard National Bank bought a new stake in shares of Constellation Brands during the 4th quarter valued at $31,000. We Are One Seven LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at $32,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Constellation Brands during the 4th quarter valued at $32,000. 73.17% of the stock is currently owned by institutional investors and hedge funds.
In other Constellation Brands news, Director Barry A. Fromberg sold 810 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $173.05, for a total value of $140,170.50. Following the transaction, the director now directly owns 20,550 shares of the company’s stock, valued at approximately $3,556,177.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas Michael Kane sold 3,071 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $190.08, for a total transaction of $583,735.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,381 shares of company stock worth $985,986. 15.80% of the stock is owned by insiders.
Shares of STZ stock traded up $7.22 on Friday, reaching $198.80. The stock had a trading volume of 2,881,485 shares, compared to its average volume of 2,308,575. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16. The stock has a market cap of $37.75 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.72 and a beta of 0.45. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $236.62.
Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.12. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. Constellation Brands’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. Sell-side analysts predict that Constellation Brands, Inc. will post 8.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, May 9th. Constellation Brands’s dividend payout ratio is presently 31.90%.
About Constellation Brands
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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