Brookstone Capital Management Increases Stock Position in Constellation Brands Inc $STZ

Brookstone Capital Management grew its stake in shares of Constellation Brands Inc (NYSE:STZ) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,003 shares of the company’s stock after acquiring an additional 589 shares during the quarter. Brookstone Capital Management’s holdings in Constellation Brands were worth $7,809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in shares of Constellation Brands during the first quarter valued at $38,000. Flaharty Asset Management LLC bought a new position in shares of Constellation Brands during the first quarter valued at $39,000. WPG Advisers LLC bought a new position in shares of Constellation Brands during the first quarter valued at $43,000. Hoey Investments Inc. bought a new position in shares of Constellation Brands during the second quarter valued at $40,000. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Constellation Brands by 45.5% during the first quarter. Pinnacle Bancorp Inc. now owns 278 shares of the company’s stock valued at $51,000 after acquiring an additional 87 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STZ has been the subject of several analyst reports. BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Wells Fargo & Company reduced their price target on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Morgan Stanley reduced their price objective on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Constellation Brands in a report on Wednesday, October 8th. One investment 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, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Price Performance

NYSE STZ opened at $140.27 on Thursday. The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 0.42 and a beta of 0.66. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The stock has a 50-day moving average of $146.00 and a 200 day moving average of $165.88. Constellation Brands Inc has a one year low of $131.20 and a one year high of $245.31.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be given a $1.02 dividend. This represents a $4.08 annualized dividend 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 presently 59.56%.

Constellation Brands 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.