Traders Buy Constellation Brands (STZ) on Weakness

Traders purchased shares of Constellation Brands, Inc. (NYSE:STZ) on weakness during trading hours on Wednesday. $193.96 million flowed into the stock on the tick-up and $130.85 million flowed out of the stock on the tick-down, for a money net flow of $63.11 million into the stock. Of all stocks tracked, Constellation Brands had the 17th highest net in-flow for the day. Constellation Brands traded down ($2.72) for the day and closed at $219.36

Several brokerages have recently issued reports on STZ. Zacks Investment Research cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Barclays began coverage on Constellation Brands in a research note on Wednesday. They issued an “overweight” rating and a $255.00 price objective on the stock. Pivotal Research increased their price objective on Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $193.00 price objective (up from $169.00) on shares of Constellation Brands in a research note on Monday, October 2nd. Finally, Macquarie began coverage on Constellation Brands in a research note on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $229.00.

The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $42,840.00, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.08.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 5th. The company reported $2.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.13. Constellation Brands had a return on equity of 22.49% and a net margin of 22.55%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $1.96 earnings per share. equities research analysts forecast that Constellation Brands, Inc. will post 8.44 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, February 8th. Constellation Brands’s dividend payout ratio is presently 11.30%.

Constellation Brands announced that its board has authorized a share buyback plan on Friday, January 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In other news, VP Thomas J. Mullin sold 18,227 shares of Constellation Brands stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $217.01, for a total transaction of $3,955,441.27. Following the sale, the vice president now owns 72,924 shares in the company, valued at $15,825,237.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 50,000 shares of Constellation Brands stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $209.45, for a total value of $10,472,500.00. The disclosure for this sale can be found here. 15.59% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wedbush Securities Inc. increased its position in shares of Constellation Brands by 12.9% during the third quarter. Wedbush Securities Inc. now owns 3,179 shares of the company’s stock worth $634,000 after purchasing an additional 362 shares in the last quarter. Oak Ridge Investments LLC increased its position in shares of Constellation Brands by 24.4% during the second quarter. Oak Ridge Investments LLC now owns 35,907 shares of the company’s stock worth $6,956,000 after purchasing an additional 7,052 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Constellation Brands by 12.2% during the third quarter. Toronto Dominion Bank now owns 65,188 shares of the company’s stock worth $13,000,000 after purchasing an additional 7,086 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Constellation Brands during the third quarter worth about $706,000. Finally, Achmea Investment Management B.V. increased its position in shares of Constellation Brands by 88.1% during the second quarter. Achmea Investment Management B.V. now owns 9,343 shares of the company’s stock worth $1,808,000 after purchasing an additional 4,377 shares in the last quarter. Institutional investors and hedge funds own 74.86% of the company’s stock.

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About Constellation Brands

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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