TRU Independence Asset Management 2 LLC bought a new position in Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 215 shares of the company’s stock, valued at approximately $47,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Eudaimonia Partners LLC purchased a new position in shares of Constellation Brands in the third quarter worth approximately $27,000. Safeguard Investment Advisory Group LLC purchased a new position in Constellation Brands during the fourth quarter valued at approximately $33,000. Greenhouse Wealth Management LLC purchased a new position in Constellation Brands during the fourth quarter valued at approximately $35,000. Paces Ferry Wealth Advisors LLC purchased a new position in Constellation Brands during the third quarter valued at approximately $32,000. Finally, Capital Asset Advisory Services LLC purchased a new position in Constellation Brands during the fourth quarter valued at approximately $43,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.
STZ opened at $234.94 on Thursday. The firm’s 50-day simple moving average is $226.59 and its 200-day simple moving average is $210.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.69. Constellation Brands, Inc. has a twelve month low of $149.01 and a twelve month high of $242.62. The firm has a market cap of $45.56 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 3.15 and a beta of 1.12.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 23rd. Shareholders of record on Tuesday, February 9th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Monday, February 8th. Constellation Brands’s dividend payout ratio is currently 10.20%.
A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Constellation Brands from $219.00 to $223.00 and gave the stock a “hold” rating in a research note on Wednesday, March 31st. MKM Partners upgraded shares of Constellation Brands from a “sell” rating to a “neutral” rating and upped their target price for the company from $154.00 to $210.00 in a research note on Friday, January 8th. Morgan Stanley upped their target price on shares of Constellation Brands from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 8th. Zacks Investment Research cut shares of Constellation Brands from a “buy” rating to a “hold” rating and set a $242.00 target price for the company. in a research note on Monday, January 11th. Finally, Smith Barney Citigroup upped their target price on shares of Constellation Brands from $220.00 to $244.00 in a research note on Friday, January 8th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $237.30.
In other Constellation Brands news, EVP Robert Lee Hanson sold 6,101 shares of the company’s stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $228.78, for a total transaction of $1,395,786.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.77% of the stock is owned by corporate insiders.
About Constellation Brands
Constellation Brands, Inc engages in the production, marketing and distribution of beer, wine and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine and dessert wine-and across all price points.
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