XR Securities LLC trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 84.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,985 shares of the company’s stock after selling 21,715 shares during the period. XR Securities LLC’s holdings in Constellation Brands were worth $699,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Truewealth LLC lifted its holdings 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 acquiring an additional 131 shares in the last quarter. City Holding Co. purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $31,000. Ledyard National Bank bought a new stake in Constellation Brands during the 4th quarter valued at approximately $31,000. We Are One Seven LLC bought a new stake in Constellation Brands during the 4th quarter valued at approximately $32,000. Finally, Quantamental Technologies LLC purchased a new position in Constellation Brands in the 4th quarter worth approximately $32,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of STZ traded down $2.01 on Monday, reaching $191.29. 1,815,221 shares of the company’s stock were exchanged, compared to its average volume of 2,228,595. Constellation Brands, Inc. has a 12 month low of $150.37 and a 12 month high of $236.62. The company has a market cap of $36.70 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.09 and a beta of 0.45. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, May 9th. Constellation Brands’s dividend payout ratio (DPR) is presently 31.90%.
Several research analysts have weighed in on STZ shares. Morgan Stanley upgraded Constellation Brands to a “hold” rating in a research note on Friday. ValuEngine upgraded Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup decreased their price objective on Constellation Brands to $168.00 and set a “neutral” rating for the company in a report on Thursday, January 10th. Cowen reaffirmed a “top pick” rating on shares of Constellation Brands in a research note on Thursday, January 10th. Finally, Deutsche Bank cut shares of Constellation Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $191.00 to $194.00 in a report on Friday. Eleven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $222.83.
In related news, Director Barry A. Fromberg sold 810 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $173.05, for a total value of $140,170.50. Following the completion of the transaction, the director now directly owns 20,550 shares of the company’s stock, valued at approximately $3,556,177.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Barry A. Fromberg sold 1,500 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the completion of the transaction, the director now directly owns 18,240 shares of the company’s stock, valued at $3,186,892.80. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.
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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