Skylands Capital LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,650 shares of the company’s stock after selling 500 shares during the quarter. Skylands Capital LLC’s holdings in Constellation Brands were worth $748,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Truewealth LLC grew its stake in Constellation Brands by 467.9% during the fourth quarter. Truewealth LLC now owns 159 shares of the company’s stock worth $26,000 after buying an additional 131 shares during the period. City Holding Co. purchased a new stake in Constellation Brands during the fourth quarter worth approximately $31,000. Ledyard National Bank purchased a new stake in Constellation Brands during the fourth quarter worth approximately $31,000. Quantamental Technologies LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $32,000. Finally, We Are One Seven LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $32,000. 73.88% of the stock is owned by hedge funds and other institutional investors.
In other Constellation Brands news, Director Barry A. Fromberg sold 1,500 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $174.72, for a total transaction of $262,080.00. Following the transaction, the director now directly owns 18,240 shares in the company, valued at approximately $3,186,892.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry A. Fromberg sold 810 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $173.05, for a total transaction of $140,170.50. Following the transaction, the director now owns 20,550 shares in the company, valued at $3,556,177.50. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.
Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, January 9th. The company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.33. Constellation Brands had a net margin of 35.27% and a return on equity of 17.62%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $2.00 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 9.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 12th will be paid a dividend of $0.74 per share. The ex-dividend date is Monday, February 11th. This represents a $2.96 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is 10.67%.
STZ has been the subject of several research reports. Zacks Investment Research downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Jefferies Financial Group reiterated a “buy” rating and set a $289.00 price objective on shares of Constellation Brands in a research note on Friday, December 7th. Morgan Stanley set a $246.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Thursday, December 20th. Guggenheim upgraded shares of Constellation Brands from a “sell” rating to a “neutral” rating in a research note on Wednesday, January 9th. Finally, BMO Capital Markets decreased their price objective on shares of Constellation Brands to $225.00 and set an “outperform” rating for the company in a research note on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $227.42.
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Constellation Brands 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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