Norinchukin Bank The increased its stake in Constellation Brands Inc (NYSE:STZ) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,795 shares of the company’s stock after purchasing an additional 898 shares during the quarter. Norinchukin Bank The’s holdings in Constellation Brands were worth $2,552,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hanson McClain Inc. grew its position in shares of Constellation Brands by 0.4% in the second quarter. Hanson McClain Inc. now owns 772 shares of the company’s stock valued at $149,000 after purchasing an additional 3 shares in the last quarter. Welch Group LLC grew its position in Constellation Brands by 2.9% during the second quarter. Welch Group LLC now owns 885 shares of the company’s stock worth $171,000 after buying an additional 25 shares in the last quarter. Ray Gerald L & Associates Ltd. grew its position in Constellation Brands by 0.7% during the second quarter. Ray Gerald L & Associates Ltd. now owns 4,630 shares of the company’s stock worth $897,000 after buying an additional 30 shares in the last quarter. LMR Partners LLP grew its position in Constellation Brands by 1.9% during the second quarter. LMR Partners LLP now owns 2,559 shares of the company’s stock worth $496,000 after buying an additional 47 shares in the last quarter. Finally, Veritable L.P. grew its position in Constellation Brands by 1.8% during the second quarter. Veritable L.P. now owns 3,447 shares of the company’s stock worth $668,000 after buying an additional 61 shares in the last quarter. Institutional investors own 73.51% of the company’s stock.
Constellation Brands Inc (NYSE:STZ) traded up $1.10 during trading on Friday, hitting $221.55. The company had a trading volume of 143,690 shares, compared to its average volume of 1,471,386. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.61 and a quick ratio of 0.69. The stock has a market cap of $43,121.56, a P/E ratio of 26.72, a P/E/G ratio of 1.42 and a beta of 0.10. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $227.20.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th were paid a $0.52 dividend. The ex-dividend date was Monday, November 6th. This represents a $2.08 annualized dividend and a dividend yield of 0.94%. Constellation Brands’s payout ratio is currently 10.67%.
In related news, insider William A. Newlands sold 2,935 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $210.10, for a total value of $616,643.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barry A. Fromberg sold 2,500 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $208.00, for a total value of $520,000.00. The disclosure for this sale can be found here. Insiders sold a total of 73,662 shares of company stock worth $15,564,585 in the last 90 days. 15.59% of the stock is currently owned by company insiders.
Several equities analysts recently commented on STZ shares. BidaskClub cut Constellation Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a research note on Wednesday, August 2nd. Cowen Inc reaffirmed a “buy” rating and set a $230.00 price target on shares of Constellation Brands in a research note on Thursday, August 3rd. Macquarie initiated coverage on Constellation Brands in a research note on Thursday, September 14th. They set an “outperform” rating and a $227.00 price target for the company. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $193.00 price target (up previously from $169.00) on shares of Constellation Brands in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $216.00.
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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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