Stratos Wealth Partners LTD. cut its holdings in Constellation Brands Inc (NYSE:STZ – Free Report) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,335 shares of the company’s stock after selling 159 shares during the period. Stratos Wealth Partners LTD.’s holdings in Constellation Brands were worth $1,356,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in STZ. Arlington Partners LLC purchased a new position in Constellation Brands in the 2nd quarter valued at about $2,333,000. Assenagon Asset Management S.A. lifted its holdings in Constellation Brands by 969.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after purchasing an additional 75,834 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in Constellation Brands by 10.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock valued at $7,049,000 after purchasing an additional 4,204 shares in the last quarter. Glenview Trust co lifted its holdings in Constellation Brands by 6.8% in the 1st quarter. Glenview Trust co now owns 69,427 shares of the company’s stock valued at $12,741,000 after purchasing an additional 4,421 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Constellation Brands by 230.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 6,471 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,511 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
STZ has been the topic of a number of recent research reports. Raymond James Financial upgraded shares of Constellation Brands to a “strong-buy” rating in a report on Monday, July 7th. BNP Paribas Exane lowered shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 target price on the stock. in a report on Wednesday, September 3rd. BNP Paribas lowered shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Bank of America reduced their target price on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a report on Wednesday, September 3rd. Finally, Roth Capital reiterated a “buy” rating and set a $209.00 price objective (down from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $186.44.
Constellation Brands Trading Up 0.2%
Shares of STZ stock opened at $141.52 on Wednesday. The firm has a market cap of $24.77 billion, a P/E ratio of 20.66, a PEG ratio of 0.42 and a beta of 0.66. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $245.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The firm’s 50-day simple moving average is $146.60 and its 200-day simple moving average is $166.06.
Constellation Brands (NYSE:STZ – Get Free Report) last posted its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The firm had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. As a group, equities analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.
Constellation Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a dividend of $1.02 per share. 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 is 59.56%.
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.
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