Altman Advisors Inc. boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,696 shares of the company’s stock after acquiring an additional 111 shares during the quarter. Constellation Brands comprises 1.7% of Altman Advisors Inc.’s holdings, making the stock its 29th biggest position. Altman Advisors Inc.’s holdings in Constellation Brands were worth $2,010,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in STZ. GAM Holding AG bought a new stake in shares of Constellation Brands during the first quarter valued at approximately $377,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Constellation Brands by 1.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 207,326 shares of the company’s stock valued at $36,351,000 after acquiring an additional 3,308 shares in the last quarter. Aspire Private Capital LLC purchased a new position in Constellation Brands during the first quarter valued at approximately $62,000. Aureus Asset Management LLC increased its holdings in Constellation Brands by 21.4% during the first quarter. Aureus Asset Management LLC now owns 108,453 shares of the company’s stock valued at $19,015,000 after buying an additional 19,101 shares during the period. Finally, Menora Mivtachim Holdings LTD. increased its holdings in Constellation Brands by 99.3% during the first quarter. Menora Mivtachim Holdings LTD. now owns 341,260 shares of the company’s stock valued at $59,833,000 after buying an additional 170,000 shares during the period. Hedge funds and other institutional investors own 72.10% of the company’s stock.
NYSE STZ traded up $1.95 on Wednesday, hitting $191.47. The stock had a trading volume of 63,927 shares, compared to its average volume of 1,848,120. The business’s fifty day moving average price is $203.13 and its 200 day moving average price is $196.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.61 and a quick ratio of 1.01. Constellation Brands, Inc. has a 52-week low of $150.37 and a 52-week high of $228.49. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s dividend payout ratio is currently 10.02%.
In other Constellation Brands news, major shareholder Richard Sands sold 95,521 shares of Constellation Brands stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total value of $19,540,730.97. Following the transaction, the insider now directly owns 173,379 shares of the company’s stock, valued at $35,468,142.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of Constellation Brands stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the completion of the transaction, the director now directly owns 27,630 shares in the company, valued at $5,452,780.50. The disclosure for this sale can be found here. 15.86% of the stock is currently owned by insiders.
STZ has been the topic of several research reports. Credit Suisse Group cut their price objective on shares of Constellation Brands from $230.00 to $228.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. UBS Group lifted their price objective on shares of Constellation Brands from $195.00 to $212.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. SunTrust Banks lifted their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a report on Monday, July 1st. Citigroup set a $210.00 price objective on shares of Constellation Brands and gave the company a “hold” rating in a report on Monday, July 1st. Finally, BMO Capital Markets lifted their price objective on shares of Constellation Brands from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Constellation Brands has a consensus rating of “Buy” and an average target price of $223.76.
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. 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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