LRI Investments LLC Grows Position in Constellation Brands Inc $STZ

LRI Investments LLC lifted its stake in Constellation Brands Inc (NYSE:STZ) by 153.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 801 shares of the company’s stock after buying an additional 485 shares during the quarter. LRI Investments LLC’s holdings in Constellation Brands were worth $130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. OFI Invest Asset Management lifted its holdings in shares of Constellation Brands by 0.6% in the second quarter. OFI Invest Asset Management now owns 38,596 shares of the company’s stock worth $6,279,000 after buying an additional 239 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Constellation Brands by 18.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,680 shares of the company’s stock valued at $2,388,000 after purchasing an additional 2,286 shares in the last quarter. Johnson Investment Counsel Inc. raised its stake in Constellation Brands by 27.2% during the second quarter. Johnson Investment Counsel Inc. now owns 3,174 shares of the company’s stock valued at $516,000 after purchasing an additional 679 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Constellation Brands by 230.2% during the second 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. Finally, Aberdeen Group plc raised its stake in Constellation Brands by 4.9% during the second quarter. Aberdeen Group plc now owns 138,243 shares of the company’s stock valued at $22,489,000 after purchasing an additional 6,495 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.1%

STZ stock opened at $141.42 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $247.63. The stock has a market capitalization of $24.93 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The firm’s fifty day simple moving average is $150.78 and its two-hundred day simple moving average is $167.96.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The firm 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%. As a group, analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

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 issued a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands’s dividend payout ratio is presently 59.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BNP Paribas Exane downgraded shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target on the stock. in a research note on Wednesday, September 3rd. BMO Capital Markets decreased their price target on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Zacks Research downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Constellation Brands in a research note on Wednesday, October 8th. Finally, Barclays cut their price objective on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.44.

Insider Activity at Constellation Brands

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