Gofen & Glossberg LLC IL lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 29.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 979 shares of the company’s stock after selling 411 shares during the period. Gofen & Glossberg LLC IL’s holdings in Constellation Brands were worth $224,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its holdings in shares of Constellation Brands by 50.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 577 shares of the company’s stock valued at $112,000 after purchasing an additional 193 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $153,000. MPS Loria Financial Planners LLC purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $157,000. BB&T Investment Services Inc. purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $179,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 74.96% of the company’s stock.
Shares of Constellation Brands, Inc. (NYSE STZ) opened at $219.22 on Thursday. Constellation Brands, Inc. has a twelve month low of $146.99 and a twelve month high of $229.50. The company has a market cap of $42,940.00, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.34 and a beta of 0.08. The company has a current ratio of 1.40, a quick ratio of 0.54 and a debt-to-equity ratio of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. Constellation Brands’s dividend payout ratio is currently 11.30%.
Constellation Brands announced that its Board of Directors has initiated a share buyback program on Friday, January 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
STZ has been the subject of several research reports. Deutsche Bank initiated coverage on shares of Constellation Brands in a report on Wednesday, December 13th. They set a “buy” rating and a $244.00 price objective for the company. Susquehanna Bancshares set a $207.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a report on Monday, January 1st. Credit Suisse Group boosted their price objective on shares of Constellation Brands from $211.00 to $226.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Wells Fargo & Co boosted their price objective on shares of Constellation Brands from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Barclays initiated coverage on shares of Constellation Brands in a report on Wednesday, January 10th. They set an “overweight” rating and a $255.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $229.00.
In other Constellation Brands news, VP Thomas J. Mullin sold 18,227 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the completion of the sale, the vice president now directly owns 72,924 shares of the company’s stock, valued at $15,825,237.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 15.59% of the stock is currently owned by corporate insiders.
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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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