American Financial Network Advisory Services LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 15.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,420 shares of the company’s stock after selling 609 shares during the quarter. American Financial Network Advisory Services LLC’s holdings in Constellation Brands were worth $582,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Cipher Capital LP increased its position in Constellation Brands by 205.6% in the fourth quarter. Cipher Capital LP now owns 50,775 shares of the company’s stock worth $8,165,000 after buying an additional 34,159 shares during the last quarter. California State Teachers Retirement System increased its position in Constellation Brands by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 258,400 shares of the company’s stock worth $41,556,000 after buying an additional 4,443 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in Constellation Brands in the fourth quarter worth $1,239,000. BOKF NA increased its position in Constellation Brands by 197.8% in the fourth quarter. BOKF NA now owns 8,970 shares of the company’s stock worth $1,443,000 after buying an additional 5,958 shares during the last quarter. Finally, Oak Grove Capital LLC increased its position in Constellation Brands by 308.3% in the fourth quarter. Oak Grove Capital LLC now owns 7,350 shares of the company’s stock worth $1,182,000 after buying an additional 5,550 shares during the last quarter. 74.05% of the stock is owned by institutional investors.
NYSE:STZ opened at $204.79 on Monday. The firm has a market cap of $39.19 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.80 and a beta of 0.54. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $234.26. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.16 and a quick ratio of 0.49.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.00 annualized dividend and a yield of 1.46%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s payout ratio is 32.33%.
In other Constellation Brands news, VP Thomas Michael Kane sold 3,071 shares of Constellation Brands stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $190.08, for a total transaction of $583,735.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Eric Klein sold 25,980 shares of Constellation Brands stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $198.66, for a total value of $5,161,186.80. Following the sale, the executive vice president now directly owns 69,852 shares of the company’s stock, valued at approximately $13,876,798.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,646 shares of company stock valued at $15,572,098. Corporate insiders own 15.80% of the company’s stock.
A number of equities analysts have recently commented on STZ shares. Bank of America reaffirmed a “buy” rating and issued a $216.00 price target (up from $188.00) on shares of Constellation Brands in a report on Friday, April 5th. They noted that the move was a valuation call. Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group raised their price target on Constellation Brands from $267.00 to $275.00 and gave the stock a “top pick” rating in a report on Monday, April 22nd. Zacks Investment Research lowered Constellation Brands from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Finally, Morgan Stanley set a $233.00 price target on Constellation Brands and gave the stock a “buy” rating in a report on Thursday, February 14th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $223.13.
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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. 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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