Mckinley Capital Management LLC Delaware Has $30.58 Million Position in Constellation Brands, Inc. (STZ)
Mckinley Capital Management LLC Delaware lowered its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 22.6% in the 4th quarter, HoldingsChannel reports. The fund owned 133,766 shares of the company’s stock after selling 39,142 shares during the quarter. Constellation Brands comprises approximately 1.5% of Mckinley Capital Management LLC Delaware’s investment portfolio, making the stock its 14th largest position. Mckinley Capital Management LLC Delaware’s holdings in Constellation Brands were worth $30,575,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. WFG Advisors LP grew its position in Constellation Brands by 7.3% in the 2nd quarter. WFG Advisors LP now owns 1,364 shares of the company’s stock worth $264,000 after purchasing an additional 93 shares during the period. Advisory Services Network LLC grew its position in Constellation Brands by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 6,985 shares of the company’s stock worth $1,353,000 after purchasing an additional 205 shares during the period. MAI Capital Management grew its position in Constellation Brands by 4.6% in the 4th quarter. MAI Capital Management now owns 5,742 shares of the company’s stock worth $1,312,000 after purchasing an additional 254 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX grew its position in Constellation Brands by 9.9% in the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,855 shares of the company’s stock worth $653,000 after purchasing an additional 258 shares during the period. Finally, First Personal Financial Services grew its position in Constellation Brands by 20.7% in the 4th quarter. First Personal Financial Services now owns 1,530 shares of the company’s stock worth $350,000 after purchasing an additional 262 shares during the period. 75.36% of the stock is owned by institutional investors.
Constellation Brands, Inc. (NYSE:STZ) opened at $213.01 on Tuesday. The firm has a market cap of $40,939.73, a price-to-earnings ratio of 23.20, a PEG ratio of 1.29 and a beta of 0.11. Constellation Brands, Inc. has a one year low of $153.28 and a one year high of $229.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 1.40.
Constellation Brands declared that its board has authorized a share repurchase plan on Friday, January 5th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, February 8th. Constellation Brands’s dividend payout ratio is presently 22.66%.
In related news, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the transaction, the director now owns 20,790 shares in the company, valued at approximately $4,582,531.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 15.59% of the company’s stock.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Vetr raised shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 target price for the company in a research report on Monday. Evercore ISI lifted their target price on shares of Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $250.00 target price (up previously from $230.00) on shares of Constellation Brands in a research report on Monday, January 8th. Finally, BMO Capital Markets assumed coverage on shares of Constellation Brands in a research report on Monday, February 5th. They issued an “outperform” rating and a $275.00 target price for the company. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Constellation Brands has a consensus rating of “Buy” and a consensus target price of $237.77.
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Constellation Brands Company Profile
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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