Tiaa Fsb Has $11.05 Million Position in Constellation Brands, Inc. (STZ)
Tiaa Fsb increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 118.0% in the 1st quarter, HoldingsChannel reports. The firm owned 63,023 shares of the company’s stock after purchasing an additional 34,118 shares during the period. Tiaa Fsb’s holdings in Constellation Brands were worth $11,050,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new position in Constellation Brands in the first quarter valued at about $533,000. Raymond James Trust N.A. purchased a new position in Constellation Brands in the first quarter valued at about $248,000. Ridgewood Investments LLC purchased a new position in Constellation Brands in the first quarter valued at about $371,000. CMH Wealth Management LLC purchased a new position in Constellation Brands in the first quarter valued at about $2,730,000. Finally, Louisiana State Employees Retirement System increased its holdings in Constellation Brands by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the company’s stock valued at $1,543,000 after buying an additional 100 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Constellation Brands to a “hold” rating in a research note on Friday, April 5th. Barclays set a $226.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research cut shares of Constellation Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Citigroup dropped their price objective on shares of Constellation Brands to $168.00 and set a “neutral” rating for the company in a research note on Thursday, January 10th. Finally, Cowen reissued a “top pick” rating on shares of Constellation Brands in a research note on Thursday, January 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Constellation Brands currently has a consensus rating of “Buy” and a consensus price target of $222.42.
NYSE STZ traded up $0.39 during mid-day trading on Monday, reaching $190.92. 1,447,556 shares of the stock were exchanged, compared to its average volume of 2,599,572. Constellation Brands, Inc. has a 1-year low of $150.37 and a 1-year high of $236.62. The firm has a market cap of $36.18 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.58 and a beta of 0.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16.
Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, April 4th. The company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.12. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $1.90 earnings per share. Constellation Brands’s revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that Constellation Brands, Inc. will post 8.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.00 dividend on an annualized basis and a yield of 1.57%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s dividend payout ratio (DPR) is 10.02%.
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Constellation Brands Company 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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