Ramirez Asset Management Inc. Sells 100 Shares of Constellation Brands Inc $STZ

Ramirez Asset Management Inc. lowered its stake in shares of Constellation Brands Inc (NYSE:STZ) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 500 shares of the company’s stock after selling 100 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Constellation Brands were worth $81,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Arlington Partners LLC bought a new position in Constellation Brands during the second quarter worth about $2,333,000. Assenagon Asset Management S.A. boosted its position in Constellation Brands by 969.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after purchasing an additional 75,834 shares during the period. Wesbanco Bank Inc. boosted its position in Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock worth $7,049,000 after purchasing an additional 4,204 shares during the period. Glenview Trust co boosted its position in Constellation Brands by 6.8% during the first quarter. Glenview Trust co now owns 69,427 shares of the company’s stock worth $12,741,000 after purchasing an additional 4,421 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Constellation Brands by 36.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock worth $560,000 after purchasing an additional 815 shares during the period. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

STZ has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price on shares of Constellation Brands in a research report on Wednesday. TD Cowen cut their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a research report on Thursday, September 4th. UBS Group set a $160.00 target price on shares of Constellation Brands in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $186.44.

Constellation Brands Trading Down 1.1%

Shares of Constellation Brands stock opened at $141.42 on Friday. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $247.63. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.43 and a beta of 0.66. The company has a current ratio of 1.08, a quick ratio of 0.68 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $150.78 and its 200-day moving average price is $168.18.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The business had revenue of $2.32 billion for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. On average, equities analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is currently 59.56%.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares of the company’s stock, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Company Profile

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.