KBC Group NV increased its position in Constellation Brands Inc. (NYSE:STZ) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,643 shares of the company’s stock after buying an additional 6,235 shares during the period. KBC Group NV’s holdings in Constellation Brands were worth $9,264,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Redwood Investments LLC bought a new stake in shares of Constellation Brands during the second quarter worth about $14,966,000. CIBC World Markets Inc. increased its stake in shares of Constellation Brands by 42.4% in the second quarter. CIBC World Markets Inc. now owns 76,159 shares of the company’s stock worth $12,597,000 after buying an additional 22,676 shares during the period. Hilton Capital Management LLC increased its stake in shares of Constellation Brands by 3.4% in the second quarter. Hilton Capital Management LLC now owns 74,930 shares of the company’s stock worth $12,393,000 after buying an additional 2,437 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of Constellation Brands by 110.0% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 140,359 shares of the company’s stock worth $23,215,000 after buying an additional 73,508 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Constellation Brands by 18.2% in the first quarter. Royal Bank of Canada now owns 266,963 shares of the company’s stock worth $40,334,000 after buying an additional 41,143 shares during the period. 73.53% of the stock is owned by institutional investors and hedge funds.
Shares of Constellation Brands Inc. (NYSE:STZ) traded down 0.10% during midday trading on Monday, reaching $156.27. The company’s stock had a trading volume of 980,026 shares. The firm has a market capitalization of $31.42 billion, a PE ratio of 26.89 and a beta of 0.59. The company’s 50-day moving average price is $162.41 and its 200 day moving average price is $162.09. Constellation Brands Inc. has a 1-year low of $130.23 and a 1-year high of $173.55.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.12. The company earned $2.02 billion during the quarter. Constellation Brands had a return on equity of 17.69% and a net margin of 15.64%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 earnings per share. On average, equities research analysts forecast that Constellation Brands Inc. will post $6.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.60 annualized dividend and a yield of 1.02%. Constellation Brands’s dividend payout ratio is presently 27.49%.
A number of analysts recently issued reports on the company. Citigroup Inc. reissued a “neutral” rating and set a $191.00 price objective (up from $180.00) on shares of Constellation Brands in a research report on Sunday, October 9th. RBC Capital Markets set a $181.00 price objective on Constellation Brands and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. reissued an “outperform” rating on shares of Constellation Brands in a research report on Monday, August 22nd. Finally, Bank of America Corp. reissued a “buy” rating and set a $185.00 price objective on shares of Constellation Brands in a research report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Constellation Brands presently has an average rating of “Buy” and a consensus price target of $178.30.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. 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.