Constellation Brands Inc $STZ Stake Reduced by Legal & General Group Plc

Legal & General Group Plc lessened its position in Constellation Brands Inc (NYSE:STZ) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 764,786 shares of the company’s stock after selling 72,959 shares during the period. Legal & General Group Plc owned approximately 0.43% of Constellation Brands worth $124,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT bought a new stake in shares of Constellation Brands during the first quarter valued at about $38,000. Flaharty Asset Management LLC acquired a new position in shares of Constellation Brands in the 1st quarter valued at $39,000. WPG Advisers LLC purchased a new position in shares of Constellation Brands in the first quarter worth approximately $43,000. Hoey Investments Inc. acquired a new stake in Constellation Brands during the 2nd quarter valued at $40,000. Finally, Curio Wealth LLC lifted its stake in Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock worth $49,000 after acquiring an additional 299 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 1.0%

Shares of NYSE:STZ opened at $132.31 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The firm has a market cap of $23.16 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.39 and a beta of 1.75. The company’s 50-day moving average price is $134.93 and its two-hundred day moving average price is $156.88. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $245.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data 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%. As a group, research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s dividend payout ratio is currently 59.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on STZ. Zacks Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. Sanford C. Bernstein reduced their price objective on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. JPMorgan Chase & Co. assumed coverage on Constellation Brands in a research note on Friday, November 7th. They set a “neutral” rating and a $153.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $181.88.

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.