Westpac Banking Corp Sells 484 Shares of Constellation Brands Inc $STZ

Westpac Banking Corp trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 51.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450 shares of the company’s stock after selling 484 shares during the period. Westpac Banking Corp’s holdings in Constellation Brands were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock valued at $221,000 after purchasing an additional 187 shares during the last quarter. Formidable Asset Management LLC bought a new position in shares of Constellation Brands in the first quarter valued at approximately $338,000. Kestra Private Wealth Services LLC boosted its position in shares of Constellation Brands by 3.6% during the first quarter. Kestra Private Wealth Services LLC now owns 18,985 shares of the company’s stock valued at $3,484,000 after buying an additional 661 shares during the last quarter. IFP Advisors Inc grew its holdings in Constellation Brands by 174.1% during the first quarter. IFP Advisors Inc now owns 5,761 shares of the company’s stock worth $1,057,000 after buying an additional 3,659 shares in the last quarter. Finally, RD Lewis Holdings Inc. purchased a new stake in Constellation Brands in the 1st quarter valued at $215,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Up 1.5%

NYSE:STZ opened at $131.12 on Tuesday. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $245.31. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $135.94 and its 200 day moving average is $158.90. The stock has a market capitalization of $22.95 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued 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 for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. Sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is currently 59.56%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STZ. Roth Capital reaffirmed 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. Wells Fargo & Company reduced their price objective 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. JPMorgan Chase & Co. started coverage on shares of Constellation Brands in a research report on Friday, November 7th. They set a “neutral” rating and a $153.00 target price on the stock. BMO Capital Markets cut their target price on Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Finally, Bank of America reduced their target price on Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Hold” and a consensus target price of $186.44.

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.