NuWave Investment Management LLC Takes $383,000 Position in Constellation Brands, Inc. (NYSE:STZ)


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NuWave Investment Management LLC bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,680 shares of the company’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eudaimonia Partners LLC purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $27,000. Safeguard Investment Advisory Group LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $33,000. Greenhouse Wealth Management LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $35,000. Paces Ferry Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $32,000. Finally, Capital Asset Advisory Services LLC purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $43,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on STZ shares. OTR Global raised Constellation Brands from a “mixed” rating to a “positive” rating in a research note on Thursday, March 25th. Wells Fargo & Company upped their price target on Constellation Brands from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 8th. Morgan Stanley upped their price target on Constellation Brands from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 8th. MKM Partners reduced their price target on Constellation Brands from $219.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Smith Barney Citigroup upped their price target on Constellation Brands from $220.00 to $244.00 in a research note on Friday, January 8th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $237.60.

Shares of NYSE:STZ opened at $224.15 on Friday. The company has a market cap of $43.46 billion, a P/E ratio of 21.83, a PEG ratio of 3.15 and a beta of 1.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.69 and a quick ratio of 1.01. Constellation Brands, Inc. has a 1 year low of $151.25 and a 1 year high of $242.62. The stock’s fifty day moving average price is $226.56 and its 200-day moving average price is $210.58.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 7th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.27. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.87 billion. Constellation Brands had a return on equity of 16.09% and a net margin of 21.63%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.18 earnings per share. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 9.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 18th. Investors of record on Tuesday, May 4th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Monday, May 3rd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.75. Constellation Brands’s dividend payout ratio is 10.20%.

Constellation Brands Profile

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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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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