Constellation Brands Inc $STZ Shares Sold by Golden State Wealth Management LLC

Golden State Wealth Management LLC cut its stake in Constellation Brands Inc (NYSE:STZ) by 60.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 381 shares of the company’s stock after selling 583 shares during the quarter. Golden State Wealth Management LLC’s holdings in Constellation Brands were worth $62,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Partners LLC purchased a new position in Constellation Brands during the second quarter worth about $2,333,000. AlphaQuest LLC increased its holdings in shares of Constellation Brands by 350.7% during the 2nd quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock worth $842,000 after buying an additional 4,029 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Constellation Brands by 969.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after buying an additional 75,834 shares during the period. Wesbanco Bank Inc. lifted its holdings in Constellation Brands by 10.7% in the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock valued at $7,049,000 after acquiring an additional 4,204 shares during the last quarter. Finally, Heritage Investors Management Corp grew its position in Constellation Brands by 6.2% in the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock worth $23,886,000 after acquiring an additional 8,613 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.3%

Constellation Brands stock opened at $127.52 on Friday. The stock has a market cap of $22.32 billion, a PE ratio of 18.62, a P/E/G ratio of 0.39 and a beta of 0.63. 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 stock’s fifty day moving average is $138.33 and its two-hundred day moving average is $161.46. Constellation Brands Inc has a 1-year low of $126.64 and a 1-year high of $245.31.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 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 expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s payout ratio is currently 59.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on STZ shares. Morgan Stanley reduced their target price on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Zacks Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. began coverage on shares of Constellation Brands in a research report on Friday. They set a “neutral” rating and a $153.00 price target for the company. Roth Capital restated a “buy” rating and issued a $209.00 price objective (down from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Constellation Brands in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $186.44.

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.