Investors Asset Management of Georgia Inc. GA ADV Sells 290 Shares of Constellation Brands Inc $STZ

Investors Asset Management of Georgia Inc. GA ADV decreased its holdings in Constellation Brands Inc (NYSE:STZ) by 14.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,724 shares of the company’s stock after selling 290 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Constellation Brands were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC bought a new position in shares of Constellation Brands in the first quarter valued at approximately $32,000. Rakuten Securities Inc. grew its holdings in Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock worth $33,000 after buying an additional 161 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Constellation Brands in the 1st quarter valued at $38,000. Flaharty Asset Management LLC purchased a new stake in Constellation Brands in the 1st quarter valued at $39,000. Finally, Hoey Investments Inc. bought a new position in Constellation Brands during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on STZ shares. Bank of America reduced their target price on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a research note on Wednesday, September 3rd. TD Cowen cut their price target on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. Zacks Research downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 9th. UBS Group decreased their price objective on shares of Constellation Brands from $205.00 to $175.00 and set a “buy” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group cut their target price on Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $188.96.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $142.20 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $153.72 and a two-hundred day simple moving average of $169.35. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $247.96. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of -59.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.75.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be given a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands’s payout ratio is -170.71%.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares of the company’s stock, valued at $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.45% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.